Toronto Market Increases 25.96% Annually over 40 Years
Real Estate Performance over Forty Years (1977 to 2017)
How did real restate perform over the last forty 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 1976 was $64,559. That’s the same as the first of January 1977 number.
The December closing number for 2017 was $735,021.
Let’s start out at the beginning of 1977 and compare that to now. We saw a $670,462 increase or 1,038.52 % over 480 months, or 0.0216 % per month which is 25.96% annually. That’s the straight line percentage calculation not one which is internally compounded.
So, that’s a 25.96% annual increase over 40 years, which is a sizeable return over that time period.
Forty years of real estate performance looks very, very attractive.
Brian Madigan LL.B., Broker