Toronto Real Estate prices increased 18% in some areas of the city in 2006, according to a recent report by ReMax Ontario.
Winning neighbourhoods of Roncesvalles, Parkdale and Swansea enjoyed the highest one year appreciation among single detached homes in the GTA (Greater Toronto Area) in 2006. The average price in these areas was $544,000 at the end of 2005 and now, that price has increased to $642,000 making them the best return on investment, in the Toronto area.
The big attraction to these neighbourhoods was the fact that they were all unique in character yet were close to the established areas of High Park and the Old Mill. The fact that these areas are downtown, shows that location is still an engine in the overall Toronto Real Estate prices and the demand continues for centrally located properties like the Annex as well. I think any one who has not driven throughout the Annex area should drive through to see just how the renovation boom has changed and benefited the homes here.
The second highest one-year increase in Toronto Real Estate prices occurred in the North Toronto area near Hoggs Hollow, the Bridal Path, and York Mills. A single detached average home here is now $1.4 million, with an increase of 13.6 per cent
Single-detached Toronto Homes:
- Swansea, Parkdale, Ronsesvalles 18.0%
- Hoggs Hollow, Bridle Path, York Mills 13.6%
- Lawrence Park 12.4%
- Bayview Village 12.2%
- Scarborough Bluffs 11.0%
Toronto Condominiums:
- Bridle Path, Hoggs Hollow, York Mills 22.0%
- Humber Heights, Richview Kingsview Village 13%
- Yorkville, Summerhill, Annex, South Hill 11.3%
- Queensway, Sunnylea 9.0%
- Lawrence Park 8.8%
Okay, this is just like The Academy Awards for Toronto Real Estate when I put in the top five for Toronto Home and Condo prices. And the winner is…I know the winners, yet it is still exciting to see my personal favourites make the top five in each category. I will reveal my favourites in..a later Blog, so now you will have to return to see my personal top picks in these winning neighbourhoods.
All of these hottest plays in single dertached or condos, can be seen on my Toronto Real Estate web page.
1 response so far ↓
Done Deals #103 « TorontoCondosBlog.wordpress.com // March 28, 2007 at 11:40 am
[...] recent Globe and Mail had the following information on done deals in and around Toronto. Some very desirable Toronto Real Estate locations had multiple offers that increased the selling price and these homes sold very [...]
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