This Toronto neighbourhood has seen the biggest spike in house prices over the past 15 years
Pretty much everyone who resides in Toronto has some sense of the manner in which the value of real estate has increased over the last couple of decades, but I wonder how many of us know just how dramatic the spike has been in some neighbourhoods. A recent report from listings website Wishpad collects 15 years of real estate data to highlight a number of trends, including the the area in which prices have appreciated the most.
Perhaps surprisingly, the winner of the price appreciation award goes to Greenwood-Coxwell, where the average price of a home has increased from $190,766 in 2001 to $813,687 in 2016, a rise that amounts to a 327 per cent spike in prices. Is it any wonder that many young people no longer think they'll be able to afford a home in this city?
This neighbourhood, of course, is not alone in witnessing radical price increases. Woodbine-Lumsden, which is located just north of Woodbine and Main subway stations, also experienced an over 300 per cent price increase over the last decade and half, with the average house jumping from $184,377 to $764,748.
According to Wishpad's numbers, the average home is 177% more expensive citywide since 2001. The most expensive neighbourhoods have seen more modest growth over this period, but in general the market has been akin to a runaway train.
These are the 15 Toronto neighbourhoods that have witnesses the biggest spike in house prices over the last 15 years.
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