Toronto house prices have driven people to snatch up real estate outside of the city for decades now, but even as the market seems in the midst of a correction, the cost of housing in the GTA is remarkably high.
To paint this picture in practical terms, the folks at Zoocasa have put together a map of Toronto area house prices tracked by GO Transit station. For prospective buyers, the results are at least a bit scary, but there might be room for some cautious optimism.
A quick scan of the map reveals that there are certainly a few stops out there that feature more reasonable prices. These are places like Malton ($363,774), Cooksville ($399,380), Bramalea ($402,483), Dixie ($417,685), Oakville ($501,383) and Streetsville ($545,450), all of which are less than 45 minutes from Toronto.
Meanwhile luxury areas like the one around Centennial Station ($1,601,444), King City ($1,529,078), and Old Cummer ($1,318,447) demonstrate that there are plenty of spots away from the core that are well beyond the point affordability as well.
In fact, what's probably most noteworthy about this map is just how many areas around GO stations outside of the city feature average house prices above the affordability limit of $545,692 based on an average household income of $78,280 (via Stats Canada in 2015).
That makes the suburban dream seem a bit more like a nightmare.
by Derek Flack via blogTO