These Ontario cities are seeing larger home price increases than Toronto

• By Sue Aitken
• Posted Monday, Mar 28, 2022 1:00 pm

These Ontario cities are seeing larger home price increases than Toronto

Toronto home prices have increased to heights never seen before but other places in Ontario have also seen huge spikes in real estate outpacing the city.

Real estate is bonkers these days — Toronto just saw the average price of a detached home top $2 million, and most young people have a slim chance of purchasing a home in the city without help.

Many people are fleeing the city and province for lower-priced real estate, which is causing boom in other places.

Home prices are increasing across Ontario, notes the March edition of the Semi-Annual State of the Housing Market report from Mortgage Professionals Canada.

"Price growth across Ontario has been rapid, with Toronto stealing most of the headlines," the report states. "But in fact, many other communities in the province are seeing higher growth, particularly the regions around Toronto."

Despite the skyrocket prices in Toronto, the city has among the lowest price growth over the last two years of major Ontario population centres. This doesn't mean prices aren't high, it just means they were already inflated and other cities are seeing...[READ MORE]