While condos in Toronto may be amongst the more affordable housing types, prices are beginning to appreciate – and quite dramatically in some areas.
A recent report by Zoocasa calculated the average condo prices in 95 of Toronto’s neighbourhoods. The study found that two-bedroom condo units have appreciated by 7 per cent and one-bedroom units appreciated by 11 per cent, when compared to the same time last year. Additionally, in 43 neighbourhoods two-bedroom units are priced higher than the city average ($641,056), and in 30 neighbourhoods one-bedroom units are priced higher than the city average ($473,800). The neighbourhood with the highest appreciation for a one-bedroom is L’Amoreaux, Scarborough sitting at a 47 per cent year-over-year appreciation, while the neighbourhood with the highest for a two-bedroom unit is Cliffside, Cliffcrest, Scarborough Village with a 45 per cent year-over-year appreciation.
Below is an infographic from Zoocasa outlining each neighbourhood by postal code: