The rising price of Toronto real estate is making it harder and harder for first-time buyers to find an affordable place of their own, which is sending them hunting for housing further from the city’s core.
The average price of a home shot up nearly 10 per cent in Toronto between December 2012 and December 2013.
At the moment, some of the most affordable areas for new buyers are in the city’s east end — in particular, an area bordered by Victoria Park Avenue, Eglinton Avenue East, Midland Avenue and Highway 401.
The areas of Scarborough from as far south as Lake Ontario to Highway 401 are also considered some of the more affordable places to buy a home right now.
The north and south parts of the city's west end are also considered to be more affordable.