Oct. 14, 2015 /CNW/ – The Royal LePage House Price Survey released today showed double-digit increases in the year-over-year price of homes in 10 of the 13 regions surveyed in the Greater Toronto Area (GTA). In the third quarter of 2015, the aggregate2 price of a home in the GTA rose 11.3 per cent over the year prior to $612,261.
Broken out by housing type, the median price for a two-storey home in the GTA increased significantly, jumping 14.0 per cent year-over-year to $731,601. Bungalows also saw a strong appreciation when compared to the third quarter of 2014, with the median price increasing 8.0 per cent to $588,776. During the same period, condominium prices rose moderately by 2.7 per cent year-over-year to$358,271.
In some cases, price increases and sales activity in the GTA’s suburbs are outpacing those in the central core. The greatest price jumps in the region were seen in Richmond Hill and Vaughan, which posted median price increases for two-storey homes of 18.6 and 18.0 per cent to $963,561 and $842,173, respectively, while the price in Toronto rose 17.1 per cent to $961,656.
Full Article Here: www.newswire.ca
The post Housing Price Increases in Vaughan & Richmond Hill Outpace Toronto Core in Third Quarter of 2015 appeared first on Toronto Area's Tech Hub.