Toronto Maps

Toronto Real Estate Prices Map – April 2016 Returns

The CMHC says the increase in single-family detached homes in Toronto’s real estate market are becoming a problem, this is what it looks like.

Toronto Real Estate Prices Map April 2016 Percentages

The Canadian Housing and Mortgage Corporation (CHMC) put out a warning this month that Toronto real estate prices are starting to put off bubblicious signs (our words, not there’s). They cited the sharp rise in single-family detached homes to be the single biggest warning, so we wanted to see if that effected the whole city – naturally we used our mad cartography skills to map it.

Continued strong price increases in the fourth quarter of 2015 reflects an increased share of higher priced low rise home sales, particularly of single-detached homes.

Housing Market Assessment, 2Q 2016

Toronto Real Estate Map

The above map shows each standard Toronto ward, and a color graph indicating the average percentage price increase from April 2015 to April 2016. Note that we only mapped “single-family detached homes”, which are the exact condition the CHMC cited as the problem.

Observations

There are a few spots that aren’t increasing as quickly, but even the prices of those in the cooler wards are outpacing core inflation by ~300% – the hottest ward is beating inflation by a whopping 1000%!

Short of having a crystal ball, anyone that says “this is the top of the market” or “it can’t go lower” are just plain guessing – and guessing probably isn’t enough to stop you from buying a home if you were already in the market for one. The exact words however from the CMCH are “strong signs of problematic conditions” are starting to surface, and claimed Toronto is seeing the same conditions as  the late 1980s. Being a millennial myself I was in diapers during the 80’s so I had to look it up – turns out prices declined a whopping 40-50% in 1989-1996, with the average mortgage rates going up to 12.7%.

So is a crash on our horizon? Let us know what you think in the comments.

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7 Comments

  • Reply
    Richard 1 year ago

    So…the worst house in Toronto is doing better then my best Canadian stock pick. FML 🙁

  • Reply
    katy 1 year ago

    50% drop would make a house ….still not affordable for me. Crap.

  • Reply
    Evelyn Thomas 1 year ago

    You guys should do Vancouver. I’d like to see what it looks like in contrast.

  • Reply
    Emma D 1 year ago

    Why is it so low downtown when the houses there are so expensive?

    • Reply
      Tiffany Greene 1 year ago

      Could be the prices spiked previously, or there isn’t as much being done to renovate/flip those places. It’s still a pretty big increase, just not as ridiculous as the rest!

    • Reply
      theowne 1 year ago

      You answered your own question, the houses there are already so expensive and the amount of people who can buy them is already limited. What’s happening is the remaining houses surrounding it are also started to be priced out for most people.

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