Events in toronto: Here are the Toronto neighbourhoods where house prices are rising fastest

Wednesday, September 18, 2019

Here are the Toronto neighbourhoods where house prices are rising fastest

It's no secret that Toronto home prices have come screaming back up the charts in recent months after a relatively short droop brought on by government cooling measures.

Not only did the fabled real estate bubble fail to burst, it now appears to be growing again at a steady pace (which could lead to an even bigger pop down the line, but that's another story).

A new report from RE/MAX Canada states that detached home sales were up in nearly 88 per cent of all 65 Toronto Real Estate Board districts between January and June of 2019.

Prices on detached homes have followed suit, much like we've seen happen with Toronto's condo market, grabbing the attention of buyers who hope to score big on their real estate investments.

“The residential real estate market in the GTA is starting to fire on all cylinders” https://t.co/LGq6c2FWXi
— Drew Donaldson (@DrewCDonaldson) September 18, 2019

"First-time and trade-up buyers are choosing to secure prime Toronto real estate before values are on the move again, especially in light of the stress test," reads the RE/MAX report.

"The leader, when looking at the percentage increase in average detached home price, is the city’s east end, which includes North Riverdale, South Riverdale, Blake-Jones, and Greenwood-Coxwell (EO1). Here, the average price rose 15.2% to $1,378,987."

Trinity-Bellwoods, Palmerston-Little Italy, Niagara, Little Portugal, Kensington-Chinatown and Dufferin Grove together saw a 12.8 per cent increase, year over year. It'll now cost you nearly $2 million, on average, to buy a detached house in any of those 'hoods.

Here are the top five fastest-growing TREB districts in terms of detached home prices right now:

E01: North Riverdale, South Riverdale, Blake-Jones, and Greenwood-Coxwell, with an increase of 15.2 per cent, year over year, reaching a current average house price of $1,378,987.
C01: Trinity-Bellwoods, Palmerston-Little Italy, Niagara, Little Portugal, Kensington-Chinatown, and Dufferin Grove, with an increase of 12.8 per cent. Average home values now sit at $1,953,511.
C11: Leaside and Thorncliffe Park, with an 11.2 per cent increase to reach an average detached home value of $2,193,747.
E04: Dorset Park, Wexford-Maryvale, Clairlea-Birchmount, Longview, and Kennedy Park in Scarborough, with a 7.8 per cent increase to an average home price of $836,585.
W02: Junction, High Park North, Runnymede-Bloor West Village, Lambton-Baby Point, and Dovercourt-Wallace Emerson-Junction, with a 7.1 per cent increase in home prices, year over year, to land at an average of $1,410,057.