(Source: National Post)

House prices skyrocketed last month in several tony north Toronto neighbourhoods, although analysts say the sharp rises appear to be an anomaly.

In Forest Hill and Moore Park, median resale prices shot up as much as $190,000 compared with August of last year — by far the steepest jumps reported in the city.

The C3 region, which includes much of Forest Hill, saw the median price rise to $580,000 from $420,0000 a year earlier. And in the C10 region, which includes parts of Moore Park and Deer Park, the price rose to $620,000 from $428,000.

Analysts say historically low mortgage rates, along with signs that the recession is easing, likely contributed to the jumps.

Read Megan O’Toole’s full article “House prices skyrocket in Moore Park, Forest Hill, Deer Park” in the National Post (September 8, 2009).

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