See which Toronto neighbourhoods saw the biggest year-over-year price gains in November

The runaway price growth for GTA homes  in November wasn’t experienced the same way in every Toronto neighbourhood. While the new average selling price for a property in the region shot up by 11.3 per cent to $538,881, prices can differ wildly between districts and property types.

Using the MLS Home Price Index included in the Toronto Real Estate Board’s latest market report, we mapped out year-over-year price growth across Toronto based on the composite, single-family detached, single-family attached, townhouse and apartment numbers.

Here’s what we learned:

  • The east end is still red hot for price growth. For the composite index, two of the top three neighbourhoods were in the east (Tweet this).
  • Unsurprisingly, the east led price growth for both single-family detached homes and attached homes as well, taking the top three spots in both categories (Tweet this).
  • Which district is seeing the biggest leap in apartment prices? That would be C11 (Leaside, Thorncliffe Park, Flemingdon Park), which saw a 30.21 per cent rise year-over-year (Tweet this).

Find your area to see whether prices are rising or dropping:

 

TREB Composite November

 

 

TREB Single Detached November

 

 

TREB Single Attached November

 

 

W03, C03, E03, E06 were not mapped as they did not have any townhouse sales in November.

 

TREB townhouses Novemeber

 

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For rent: Mapping price growth for apartment rentals across Toronto

Photo: Trevor Pritchard/Flickr

If you rent, you understand the acute pain that comes with combing through Craigslist ads at length, only to settle for an apartment that’s barely okay-ish. After year after year of climbing rents, new numbers from the CMHC suggest not exactly relief for renters, but a very slight slowing of year-over-year increases in lease rates.

Between 2013 and 2012, the average rent for a Toronto apartment went up 2.81 per cent to $1,134 a month (Tweet this). Compare that to between 2011 and 2012, when the rent rose by 3.37 per cent, from $1,067 to $1,103.

Here are a few other things we learned about the Toronto rental market by looking through the CMHC’s numbers:

  • Overall, the vacancy rate in Toronto proper sits at 1.6 per cent, slightly tighter than the 1.7 per cent rate recorded in 2012.
  • In Central Toronto, the vacancy rate reached 1.7 per cent in fall 2013, an improvement over the impossibly low rate of 0.8 per cent in 2012 (Tweet this).
  • Looking back at CMHC stats all the way to 1992, the lowest vacancy rate recorded in the city was in 2000, when it reached a rate of 0.6 per cent (Tweet this).

We looked into neighbourhood numbers as well to see what it’ll cost you to rent a bachelor apartment, a one-bedroom or two-bedroom apartment in different corners of Toronto. While downtown renting has turned into something of a blood sport, the number show that some of the biggest leaps in price were actually in ‘burbs like Central Etobicoke.

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