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Double Digit Gains in Real Estate

July 14, 2010 - Updated: July 14, 2010

The first half of 2010 has been a good one for investments in GTA's real-estate market.

Many properties have seen double-digit percentage gains after a stagnant performance in 2009.

A report looked at 63 real estate districts in Toronto for the first half of the year and found prices go up by more than 10 per cent for 85 per cent of them.

The best performer, Lorne Park in Mississauga, was up 30 per cent at an average price of $880,000 for a single-detached home.

Markham ranked second, with sale prices up by 27.7 per cent, while Armour Heights/Bathurst Manor was third at 27.5 per cent.

Rounding out the top five were Hogg's Hollow and the Bridle Path at 26 per cent.

While first-time buyers were leading the way early in 2009, move-up buyers were driving prices substantially higher in the first six months of this year, taking advantage of record low interest rates.

 

63 Toronto Real Estate Board (TREB) districts in the single-detached category between January and June of 2010 and found that 85.7 per cent experienced double-digit gains. 

 

Mississauga's Lorne Park (W13) led in terms of percentage increase in average price with a 30.2 per cent upswing in the first six months of the year, bringing year-to-date values in the area to $880,373 (vs. $676,289 in 2009 and $830,041 in 2008). 

 

Markham (N01) ranked second with a 27.7 per cent jump to $779,168 (vs. $610,322 in 2009 and $683,050 in 2008) while Armour Heights, 

 

Bathurst Manor (C06) came in a close third at 27.5 per cent (rising to $732,535 from $574,599 in 2009 and $589,808 one year earlier). 

 

Mississauga's Creditview, Erindale area (W16) secured fourth spot with an average price of $561,973 - up 26.5 per cent over 2009's $444,221 and 2008's $476,877

 

Rounding out the top five was York Mills, Hogg's Hollow, Bridle Path (C12) with a 26.2 per cent increase over last year and an average price of $1,868,591 (vs. $1,480,296 in 2009 and $1,580,851 in 2008).


Tagged with: gta real estate durham real estate news housing figures
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