In 1996 the average price of a residential property in the Greater Toronto Area was less than $200,000. Fast forward 25 years and more than 2 million properties sold and it is now well over $1,000,000. Certainly GTA home price increases have easily outpaced the rate of inflation. They have also shown resilience in the face of the 2007-2008 Global Financial Crisis and Stock market crashes. They have also shown resilience in the COVID-19 (coronavirus) pandemic (2019-) and they will likely continue to grow in the long term despite global impacts such as the war in Ukraine.
Of course the amount of increase depends on where you live, with areas inside Toronto growing more modestly around 300% in that time frame and some areas outside the Toronto area (such as York region) which have grown about 875% in 25 years!
Here is a summary of how GTA real estate prices have increased over the last 25 years:
Toronto East - Up 452.9 per cent to $1,095,475
Toronto West – Up 468.4 per cent to $997,195
Toronto Central – Up 301.3 per cent to $1,000,478
Durham Region – Up 507.6 per cent to $925,710
Peel Region – Up 495.9 per cent to $1,052,438
Halton Region – Up 446.8 per cent to $1,232,967
York Region – Up 874.9 per cent to $1,291,217
Dufferin Country – Up 334.5 per cent to $803,822