With Toronto’s housing market continuing its upward trajectory, it can be difficult to determine which neighbourhoods offer homebuyers a good return on their investment.
Thankfully, a new report helps take the guesswork out of the process, providing hard numbers from the Toronto Regional Real Estate Board, Statistics Canada and the Canada Mortgage and Housing Corp. to support where you should spend your real estate dollars.
In addition, the ‘where to buy’ report examined how affordable each of Toronto’s 141 neighbourhoods is compared to its surrounding area and the region overall, as well as how quickly prices are appreciating, with an emphasis on the long-term outlook. An extensive panel of real estate experts was also consulted.
The result is a ranking of the best neighbourhoods to buy a single-family home in 2020. Here are the top 10 and their average prices:
Moss Park: $1,509,796
Mount Pleasant East: $1,594,740
Yonge-St. Clair: $2,095,964
Crescent Town: $1,069,340
Lawrence Park North: $1,819,957
Rosedale-Moore Park: $3,008,096
Curious to know which neighbourhoods are the most affordable in terms of average price?
They include Malvern, Rouge E11, Bendale, Morningside, Woburn, Elms-Old Rexdale, Mount Olive-Silverstone-Jamestown, Rexdale-Kipling, Thistletown-Beaumonde Heights and West Humber-Clairville.
Average prices are for 2019.