The Fair Housing Plan and the B-20 have worked to decrease the incredible appreciation of properties throughout Toronto, however, it has been impossible in some areas.

The six steepest falls year after year between July 2017 and this year are Don Mills, Parkwoods-Donalda and Victoria Village, where prices depreciated by 19%. Bridle Path-Sunnybrook-York Mills and St. Andrew-Windfields suffered a decline of 18%, as did L’Amoreaux, Steeeles and Tam O’Shanter-Sullivan.

Newtonbrook East and Willdowdale East saw a 17% drop, while Bayview Village, Bayview Woods-Steeles, Don Valley Village, Henry Farm, Hillcrest Village and Pleasant View all depreciated 13%, as did Bathurst Manor and Clanton Park.

“The fall began in January and is now reaching the stabilization point,” said Freda Lau, operations director of Fivewalls Realty. “We see no reason for prices to suddenly rise again, simply because those interested in real estate have increasingly stricter budgets. ”

Fivewalls compiled the data and also points out that there were areas that were appreciated despite government intervention. High Park-Swansea, Roncesvalles and South Parkdale in the West End of Toronto gained 15% appreciation, while Cabbagetown-South, St.

James Town, Church-Yonge Corridor, Moss Park, North St. James Town, Regent Park and Waterfront Communities had 12% climbing. Alderwood, Long Branch, Mimico and New Toronto witnessed a 10% appreciation.

The reason for the appreciation in those neighborhoods, says Lau, is that they have a high number of condo sales. He also warns that these price increases will eventually stabilize.

“We realize that they are especially newbies, either in their first 30 years and looking for their first home or moving in with their partner, those who are looking for condos and townhouses because single-family homes are inaccessible to them, and an interesting statistic that we have seen is that the number of consultations for single-family homes has decreased by 10-15% this year compared to last year. ”

The prices in the most luxurious market probably will not recover because the demand has been reduced significantly.

“I do not see the appreciation rise again in the luxury market because with the rules of the mortgage and the Fair Housing Plan, the rise in prices has stopped, and it is very difficult for the luxury market to bounce back into homes $ 2m + homes, “Lau said.

“We see that it’s almost like getting a discount when you see a depreciation of the price of 18% in those neighborhoods, while with condos and townhouses for new buyers, where that is the product that is most available to them, they will continue to work a little , but with the increase in interest rates that seems to stabilize, because there are many people who can pay. ”

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