(Source: The Toronto Star)
A closer look at the numbers shows prices in many neighbourhoods – including Toronto’s upscale Bridle Path, Rosedale and Forest Hill – are lagging their lofty 2007 heights, not to mention the gains experienced by their lower-scale neighbours.
The biggest two-year losses were in King and Uxbridge, where Nov. 2009 median home prices remain about 30 per cent below Nov. 2007, according to the Toronto Real Estate Board monthly reports.
In another 13 of the 86 areas tracked by the board, prices are still lower than in 2007, including places where auto-sector woes pulled prices down – Oshawa, home of General Motors of Canada, and Clarkson, adjacent to the Oakville Ford plant.
Read Catherine Farley’s full article “GTA real estate winners and losers” in the Toronto Star (January 1, 2009).