Friday, 23 September 2011

Pretty but shallow?

Another performance map came out today about Toronto's real estate market in the past year. I cannot resist these things and will spend a good chunk of time staring at each neighbourhood and wondering why some (and in fact most) have increased in price and a few have kinda bombed. I certainly believe that some neighbourhoods and micromarkets have a better chance at appreciation than others. I enjoy how this interactive map gives you the stats in each neighbourhoods, though I have to say that these neighbourhoods do some times contain vastly different kinds of housing.

On the downside, this kind of map can come off as a little too simplistic. For example, according to the map, Liberty Village properties have actually dropped in price from 2010 to 2011.  It suggests that the prices of condos (which is most of Liberty Village) have fallen in price. I feel that the prices in this area with existing condos, particularly a number of conversion projects, have increased in value. So, it's not so much that properties have fallen in value, but that newer, smaller condos have come to market at a lower price point bringing the average down. Kinda hard to get across in an interactive map.

So, have fun with the map, but don't take it too seriously.

No comments:

Post a Comment