Loading articles...

How crazy are house prices in Toronto? They're 356% higher than in 1996

A “sold over asking” sign sits in front of a detached house with an artificial grass front lawn in Toronto . THE CANADIAN PRESS IMAGES/Rachel Verbin.

A detached home in Toronto costs about 356 per cent more than it did just 20 years ago, according to a Toronto real estate brokerage.

Figures gathered by TheRedPin show the average cost for a detached home in 1996 was $265,822. Now it’s $1,211,459.

“It’s no wonder many Torontonians quip the only way to get an affordable deal on a home in today’s market is to invent a time machine,” the site reads.


Related stories:

As house prices soar, people buy with a little help from their friends

Average cost of GTA home now over $1,000,000

Potential home sellers in Vancouver, Toronto worried about becoming buyers: report


And it’s not just Toronto. Homes in Aurora, Markham, Oakville and Vaughan have seen similar increases, while homes in Newmarket, Pickering and Whitby have seen smaller hikes.

In Whitby, for example, the average home price has jumped from $176,964 to $601,611 – just a 240% increase.

For a complete list of average home prices in the GTA between 1996 and 2016, visit TheRedPin.com.

(To view video on mobile, click here)