Leave the city for mere years and what you return to may be completely unrecognizable.
And it seems like every week’s news cycle offers new revelations about skyrocketing real estate prices in Toronto, and this week was no different.
New numbers from the Toronto Real Estate Board show both condo prices and sales having jumped significantly over the last year.
"Condominium apartment prices have been appreciating at a moderate pace, on average, over the past year, especially when compared to low-rise home types like detached and semi- detached houses and townhouses,” Jason Mercer, TREB's Director of Market Analysis, said in a release sent to MBN sister publication REP.
“However, it is possible that we could see an acceleration in condo price growth in the second half of this year, as growth in sales remains strong relative to growth in listings.”
That growth has been perfectly captured by the Toronto Star, which assembled an interesting new way of putting Toronto’s boom into perspective. In a series of retrospective animated gifs, the publication has assembled a “now and then” look at some of the city’s burgeoning neighbourhoods. Click here
to check them out – it’s well worth the visit.