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We are all aware of the hit the real estate market took in Toronto after a huge boom in pricing that made it almost impossible for buyers. After more than a year of housing prices plunging, housing prices are back on the rise according to experts.
Reports show “a marked improvement over Q1 figures” across the GTA (Greater Toronto Area) with a price appreciate for single-family detached homes in Q2 of 2018. The report analyzed the average price of homes was either climbing or on par over the last three months in 75% of the Toronto Real Estate Board districts.
Here is a list of the best performing markets by price appreciation around the GTA:
Trinity-Bellwoods and Palmerston-Little Italy (C01)
Average Q2 price of $1,872,407 – House prices up 17%
The Beaches (E02)
Average Q2 price of $1,503,034 – House prices up 10%
Average Q2 price of $2,031,031 – House prices up 10%
Edenbridge, Humber Valley, Islington (W08)
Average Q2 price of $1,571,919 – House prices up 10%
Average Q2 price of $1,571,919 – House prices up 9%
Average Q2 price of $1,383,888 – House prices up 9%
Average Q2 price of $1,052,187 – House prices up 9%
In conclusion, the best houses to invest in right now are not necessarily starter homes…so start saving my friends! If you would like more information about buying or selling in the GTA, call me at 416-728-5401 or click here and fill out a contact form on my website.