Realosophy and the Globe and Mail recently released a market breakdown of how Toronto neighbourhoods fared in the first nine months of the year. The infinitely clickable map shows just where prices slumped or surged since the same time last year.
Naturally, we wanted to throw in our two cents on why some parts of the city are seeing dramatic upticks in values. Here’s how we view the big gainers in the Toronto real estate game:
Up 21% from 2012
Our Take: Immediately west of Forest Hill, the neighbourhood has access to both St. Clair Avenue West and Eglinton Avenue. It’s still relatively central though more affordable than its upscale neighbour to the east. The region fits into the trend of rising values of homes around Eglinton Avenue. Transit-starved Toronto seems eager to get within walking distance of the new Eglinton LRT line. Other Eglinton West ‘hoods have seen similar year-over-year increases: Oakwood Vaughan is up by 12 per cent, Fairbank is up by 15 per cent and Keelesdale has seen 13 per cent growth.
Old East York
Up 11% from 2012
Our Take: East York’s post-war bungalows have attracted bidding wars and families looking to find detached homes with reasonable prices that aren’t too far from the core. The neighbourhood’s close to the Don Valley Parkway, plenty of schools and park space in nearby Todmorden Village and Taylor Creek Park.
Up 14% from 2012
Our Take: We’ve lost count of how many new cafes, bars and restaurants have moved into Dundas West and College Street in the last couple of years. Brockton is clearly an area on the upswing. As prices continue to rise in Dufferin Grove and Roncesvalles, the neighbourhood is a more affordable option for house hunters keen on living in Toronto’s west end.
Up 23% from 2012
Our Take: Though numbers in smaller neighbourhoods can easily be skewed by a few big sales, there’s no mistaking Kensington’s appeal. As the market marches towards more upscale eateries, bakeries and butcher shops, it’s clear that the neighbourhood is seeing signs of gentrification. Plus the area’s central location is sure to appeal to those downtown-loving Echo Boomers we keep hearing about.
City-wide, the largest price increases were measured in the Bridle Path (46 per cent), Playter Estates (42 per cent), Graydon Hall (41 per cent) and South Annex (37 per cent).