Toronto Market Increases 14.30% Annually over 30 Years
Real Estate Performance over Thirty Years (1987 to 2017)
How did real restate perform over the last thirty years?
The average sale prices as reported by TREB for single family homes of all types in the GTA, including houses, townhouses and apartments, for the period ending 31 December 1986 was $138,925. That’s the same as the first of January 1987 number.
The December closing number for 2017 was $735,021.
Let’s start out at the beginning of 1987 and compare that to now. We saw a $596,096 increase or 429.08 % over 360 months, or 0.0119 % per month which is 14.30% annually. That’s the straight line percentage calculation not one which is internally compounded.
So, that’s a 14.30% annual increase over 30 years, which is a sizeable return over that time period.
Not too many people are looking at the 30 year numbers, but they do show excellent performance.
Brian Madigan LL.B., Broker