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Condo Values Explode Along Eglinton Crosstown LRT by Up to 135%

Robert Van Rhijn
Publication date:
June 4, 2022
Article Summary: 

Condo Values Explode Along Eglinton Crosstown LRT By Up To 135%
The light rail transit system, also known as Line 5, will take passengers along Eglinton Avenue from the new Mount Dennis station at Weston Road all the way to Kennedy station in Scarborough.

Despite its delayed opening of Fall 2022 - property values along some portions have skyrocketed in just the past five years by as much as 135%. To put that into context, Toronto's overall condo market in the past five years has appreciated just 72%. Appreciation rates intensify at furthest ends of transit line.

Ca analyzed condo sales along the Eglinton Crosstown going back to 2011.

Currently in 2021, it's sitting at $500; a stunning increase of 135%. Around Ionview station, one stop over, condo values have skyrocketed in the same time period by 134%. On the westerly portion of Line 5, properties surrounding Mount Dennis station have seen an increase of 67% since 2016.

Head one stop east to Keelesdale, and nearby condo prices have risen 103%. Eglinton Crosstown will 'breathe new life' into overlooked pockets.

Ca, says this would partly explain why property values among Scarborough and York Crosstown condos have increased over 100%. "Many homebuyers want to live near this new transit line, and being further from Yonge is no problem if you can now get to the core quite easily. But the housing supply hasn't been able to keep up with this new demand, and the data certainly illustrates that," explains Van Rhijn.

Despite the rising real estate prices that often come with better transit, Liu notes that homeowners in more prestigious areas aren't as excited about the new Eglinton Crosstown.


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Source Citation: 
Robert Van Rhijn
Condo Values Explode Along Eglinton Crosstown LRT by Up to 135%
June 4, 2022
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