toronto home prices

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.

Biggest price increases

Most of the GTA neighbourhoods that saw the biggest price hikes from May to June were in downtown Toronto:

  • Annex/Yonge-St. Clair — prices skyrocketed 24 per cent both month-over-month and year-over-year to an average of a whopping $2.12 million
  • Don Mills/Don Valley West — average prices rose 20 per cent month-over-month and 15 per cent year-over-year to $1.45 million
  • North York, northeast, including Bayview Village and Don Valley Village — prices, on average, climbed 15 per cent month-over-month and 8 per cent year-over-year to $1.1 million
  • Birchcliffe-Cliffside/Oakridge in Scarborough — average prices went up 11 per cent month-over-month and 31 per cent year-over-year to $1.41 million
  • Port Perry — average home prices swelled eight per cent month-over-month and 22 per cent year-over-year to $1.2 million
  • Pickering — prices, on average, spiked six per cent month-over-month and around nine per cent year-over-year to $1.15 million
  • West Toronto Lakeshore — prices expanded around six per cent month-over-month and one per cent year-over-year to an average of $1.55 million
Biggest price drops

The only places in the GTA where average prices declined from May to June were:

  • Rosedale/Moore Park — prices dropped a staggering 34 per cent month-over-month and 27 per cent year-over-year in this bougie area, to hit an average of $1.99 million
  • Brock, Durham Region — prices fell 31 per cent month-over-month and 11 per cent year-over-year to an average of $729,059
  • St. Andrews/Bridle Path/York Mills — one of the most expensive pockets of the city saw average prices decrease 30 per cent month-over-month and 28 per cent year-over-year to $2.2 million
  • West Midtown — prices plunged 27 per cent month-over-month and five per cent year-over-year to an average of $1.62 million
  • Scarborough Lakeshore East — prices tumbled an average of 18 per cent month-over-month and six per cent year-over-year to 
  • Etobicoke Centre — prices dropped 17 per cent month-over-month and one per cent year-over-year to $949,423
  • Scarborough Southwest — prices went down 15 per cent month-over-month and eight per cent year-over-year to $888,801, on average

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.

Lead photo by

A Great Capture

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