These are the neighbourhoods in Toronto where home prices are rising and falling the most
It's nearly impossible for most people in the GTA to actually afford home ownership, with a large chunk of residents lately accepting their fate as lifelong renters amid ever-more-ridiculous housing prices.
For those who are able to somehow secure a down payment and mortgage, finding something on the cheaper end of the spectrum that also fits their must-haves is tough, not to mention competitive.
One way to find a cheaper home is by, of course, expanding the area in which you're looking. Or, buying cheaper in an area that is likely to go up in price to get more bang for your buck.
And, new numbers from the Toronto Regional Real Estate Board show which parts of the region have been seeing huge price jumps and which ones have gotten slightly more affordable in the last month.
Toronto suburbs boast the most overvalued real estate in all of Canada https://t.co/WanvwJOGD8 #Toronto #TorontoRealEstate #Canada #RealEstate
— blogTO (@blogTO) May 27, 2022
Most of the GTA neighbourhoods that saw the biggest price hikes from May to June were in downtown Toronto:
The housing market isn’t in trouble if you’re a buyer. 🤷🏻♂️
— ALL CAPS 🧢🧢🧢 (@nawksi) July 8, 2022
The only places in the GTA where average prices declined from May to June were:
Ontario's red hot housing market might actually cool off in 2022 https://t.co/zaPArzMgGM #Ontario #RealEstate
— blogTO (@blogTO) April 27, 2022
The remaining parts of the region saw things stay relatively steady price-wise, as the market slows down amid higher interest rates and increased supply.
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