Where to buy GTA real estate in 2018 - MoneySense

Where to buy GTA real estate 2018

The big city’s market is volatile but a meltdown is unlikely

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An aerial view of Toronto, Ontario (Dan Sedran/Shutterstock)

Realtors agree the Greater Toronto Area’s 2017 real estate market can be summed up in one word: Volatility.

The first few months of the year saw prices skyrocket, soaring more than 30 per cent higher than they were at the same time the previous year. Then, in April, the Ontario government introduced the Fair Housing Plan, a slate of measures to address affordability including a 15 per cent tax on foreign buyers in the GTA and surrounding area.

Suddenly, the first quarter’s record sales turned into a drastic drop. A long-predicted housing crash never came, however, with price growth slowing but not reversing in the second half of the year.

PHOTOS: Top 10 Toronto neighbourhoods to buy in

“It was really a rollercoaster,” said Toronto-area RE/MAX realtor Nadia Childs. “Towards the end of 2017 I think we saw buyer confidence return.”

Some buyers who bought at the peak of the market ended up in trouble when the frenzy ground to a halt, but Childs said she welcomed the province’s measures. In 2017 overall, the average property price in the GTA increased by 12.7 per cent — hardly a U.S.-style housing meltdown.

That meltdown could still be around the corner, but Childs thinks it’s unlikely.

“In Toronto in particular, we’re a world-class city,” she said. “Until rates go back to where they were in the mid-’90s, I don’t think much is going to change.”

Top 25 neighbourhoods

ClickTap column headings to re-rank neighbourhoods. ClickTap on any neighbourhood name to learn more about it. Search by neighbourhood or area to filter results.

Rank Neighbourhood Area Average home price (2017) Value Momentum Realtor Grade Average price vs. area Avg. price vs. metro district Avg. price vs. outer region 1-year price change 3-year price change 5-year price change
1BowmanvilleClarington$485,49486.2276.88★★★★½90.43%76.53%46.02%18.75%67.72%96.24%
2StroudInnisfil$600,51170.6499.43★★★★96.97%96.34%56.92%55.45%136.65%139.42%
3LisleAdjala-Tosorontio$594,52781.1092.97★★★★80.13%95.38%56.36%46.09%69.39%116.80%
4AngusEssa$440,48494.1767.81★★★★78.83%70.67%41.75%20.37%65.08%84.82%
5BlackstockScugog$679,38758.0183.59★★★★★103.92%107.09%64.40%59.81%56.74%104.50%
6TottenhamNew Tecumseth$547,18674.5690.58★★★★97.08%87.78%51.87%29.97%82.79%101.93%
7CanningtonBrock$428,19092.6570.25★★★★83.71%67.49%40.59%27.41%75.08%80.81%
8AlconaInnisfil$508,04587.0966.39★★★★82.04%81.50%48.16%18.58%62.91%87.51%
9VanierOshawa$422,39194.3492.37★★★80.13%66.58%40.04%26.19%81.54%118.99%
10CookstownInnisfil$679,40155.3996.53★★★★109.71%108.99%64.40%30.42%87.78%150.37%
11AllistonNew Tecumseth$485,79287.5860.92★★★★86.18%77.93%46.05%21.26%57.56%82.21%
12Keswick NorthGeorgina$646,34074.6292.34★★★½107.64%55.24%61.27%29.12%74.26%118.52%
13BeavertonBrock$482,78583.7765.44★★★★94.38%76.10%45.76%25.21%78.89%76.47%
14Central NewmarketNewmarket$837,34662.9189.35★★★★98.50%71.56%79.37%20.95%74.47%119.45%
15PefferlawGeorgina$614,40978.4989.70★★★102.32%52.51%58.24%36.86%66.56%110.45%
16CentralAjax$476,21593.3070.35★★★½73.30%75.06%45.14%10.82%69.03%104.32%
17StouffvilleWhitchurch-Stouffville$838,84174.2962.75★★★★½78.42%71.69%79.51%17.26%64.05%85.48%
18Gorham-College ManorNewmarket$782,32771.5172.22★★★★92.03%66.86%74.16%15.66%71.41%93.74%
19Pringle CreekWhitby$611,53772.1768.26★★★★94.45%96.39%57.97%16.87%63.07%91.85%
20Aurora HeightsAurora$992,40857.4193.91★★★★86.91%84.81%94.07%32.79%81.35%113.88%
21Village EastPickering$624,77079.0377.70★★★½78.16%98.48%59.22%22.74%68.18%91.07%
22O'NeillOshawa$448,88191.2388.17★★½85.16%70.76%42.55%26.64%79.31%101.21%
23DonevanOshawa$464,52288.8383.17★★★88.12%73.22%44.03%20.92%71.53%99.41%
24Keswick SouthGeorgina$569,61585.2973.70★★★½94.86%48.68%53.99%16.98%65.35%96.85%
25Rural ScugogScugog$642,34065.5263.27★★★★½98.25%101.25%60.89%23.96%56.06%84.00%
Value
Measures how affordable the neighbourhood is compared to the surrounding area and the region overall
Momentum
Measures how quickly prices are appreciating in this neighbourhood, with an emphasis on long term appreciation
Realtor Grade
How realtors we surveyed rate this neighbourhood

For more, please see our complete methodology

We ranked the best neighbourhoods in three GTA regions — core, inner suburbs and outer. The core is the city’s urban centre, with accessible transit and easy access to amenities. The inner suburbs are for people who don’t mind trading a longer commute for better parking and a bigger lot size. And the outer region is for buyers who either don’t need to commute downtown at all, or are willing to log some serious travel time in exchange for affordable prices and wide open spaces. Check out the map below to see how the regions break down.

Regions map

Core Inner Suburbs Outer Suburbs