The hottest neighbourhoods for buying a house in Toronto right now

If you're looking to buy a detached house in Toronto right now, well bless your heart. That is not an easy task.

The real estate market has been volatile recently, to say the least, but experts say that house prices are back on the rise after more than a year of plummeting sales and values.

A new report from RE/MAX shows that price appreciation for detached, single-family homes in the second quarter of 2018 showed "a marked improvement over Q1 figures" across the Greater Toronto Area.

The so called "Hot Pocket Report" (lol) concluded that the average price of all homes analyzed was either on par or climbing over the past three months in 75 per cent of Toronto Real Estate Board districts — some of those districts, more than others.

The RE/MAX Hot Pocket Report examined sales and average prices of detached homes in 65 Toronto Real Estate Board districts. Image via RE/MAX.

Here are the top-performing markets in terms of price appreciation in and around Toronto.

Palmerston-Little Italy and Trinity-Bellwoods (C01)

Home values up 17 per cent with an average second-quarter price of $1,872,407 

The Beaches (E02)

Home values up 13 per cent with an average second-quarter price of $1,503,034

Leaside (C11)

Home values up 10 per cent with an average second-quarter price of $2,031,031

Edenbridge, Humber Valley, Islington (W08)

Home values up 10 per cent with an average second-quarter price of $1,571,919

Birchcliffe-Cliffside (E06)

Home values up 9 per cent with an average second-quarter price of $1,571,919

Stonegate-Queensway (W07)

Home values up 9 per cent with an average second-quarter price of $1,383,888

Willowridge-Martingrove-Richview (W08)

Home values up 9 per cent with an average second-quarter price of $1,052,187

So, the best houses to invest in may not necessarily be starter homes. I guess the old adage rings true, once again: It takes money to make money.