A recent article by Tasmin McMahon in Mcleans Magazine looked into whether historically houses or condominiums were a better investment by neighborhood.
So what was happening in the various neighborhoods. While it is obvious that the supply of houses (particularly detached) in Toronto is finite, and condominiums continue to be built, some neighborhoods have been better to the condominium owner than the house owners.
Click here for the full article and comparison. In addition to some great interactive maps which show how the prices have changed in various Toronto neighborhoods particularly comparing the housing and condominium markets.
“It would be easy to expect that a rising tide lifts all boats: when buyers flock to neighbourhoods for the amenities and the transit, prices of all types of housing should rise at roughly the same rate, even if condos cost much less than detached homes.
Clearly that isn’t the case in most parts of the city. “
It was surprising to see, and certainly something worth considering if you are planning on investing in the future. Overall, houses have increased more than condominiums, however, it the article shows, it depends where.
However, it goes without saying that investments are never guaranteed, and past performance never guarantees future performance.