Annual Growth in Home Price Continued from 2014

The Toronto housing market has seen a world of change in recent years – factors such as a strong economy, heavy migration, low rental vacancy, as well as investment in real estate as an asset, have had a too-hot-to-handle impact on average home prices in the city. According to data from the Toronto Real Estate Board, the average home buyer would need to shell out $256,055 more for a home in July 2019 compared to 2014, an increase of 46% and a price tag of $806,755.

And, while provincial and federal policies introduced to cool the market have had a pulldown effect on sales and price growth between late 2017 – mid 2018, new analysis from Zoocasa finds that, over a five-year time period, dramatic price increases have persisted in pockets across the city.