This website is using a security service to protect itself from online attacks The action you just performed triggered the security solution There are several actions that could trigger this block including submitting a certain word or phrase You can email the site owner to let them know you were blocked Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page it's time to take a moment to reflect on Toronto's real estate market and what were the most and least expensive sales recorded throughout 2021 Presenting such a roundup is Toronto realtor and chartered accountant Scott Ingram, who is back with the 2021 edition of his annual MLS Awards Ingram created the ‘awards’ because he was curious to see what the most expensive house that sold in Toronto on the MLS was which made him then wonder what the least expensive was… and so on While the Toronto Regional Real Estate Board’s MLS system covers a wide geographic area the ‘winners’ of this year's edition are only from Ingram’s main area of interest The winners are also exclusively only residential real estate -- sorry commercial READ: Welcome to 2022: “Basic” Kitchener-Waterloo Home Sells for Over $1.2M here are the most and least expensive sales throughout Toronto for 2021 Neighbourhood: C12 Bridle Path-Sunnybrook-York MillsAddress: 24 Park Lane CircleList price: $45,000,000DOM: 259 (and counting) The property is unique because it actually has two concurrent residential listings or there's the $45-million option in which the "Owner/Builder will customize while in construction." Neighbourhood: C12 Bridle Path-Sunnybrook-York MillsAddress: 71 The Bridle PathSold price: $23,850,000DOM: 440 (total property DOM: 906) Securing the title of the most expensive home sold in 2021 is this Bridle Path home, which actually had the most expensive asking price in Ingram's 2020 MLS Awards at $32 million the palatial home -- boasting 21 rooms (plus nine more in the basement) an an indoor pool -- ended up selling for a cool $23.8 million Neighbourhood: W3 Caledonia-FairbankAddress: 2226 Dufferin AvenueSold price: $450,000DOM: 11 the least expensive freehold to sell in Toronto is this tiny detached home that sold for $450,000 on Dufferin Ave this home is a "total gut job," and there aren't actually any photos of the home's interior available the home's listing reads: "Attention builders," "Property being sold as-is where-is," and "No children or elderly to access lot or house," so you could only imagine what the interior looked like Neighbourhood: C1 Bay Street CorridorAddress: 1 Bloor Street West (The One)List price: $34,700,000DOM: 45 (and counting) As for the most expensive asking price for a condominium this 8,752-square-foot lower penthouse located on the 79th floor of Mizrahi Development Group's The One took the top spot Neighbourhood: C9 Rosedale-Moore ParkAddress: 1 Roxborough Street East (Hill and Dale)Sold price: $11,600,000DOM: 44 (total property DOM: 174) This year's top condominium sale is located in a 14-unit building one block north of the Rosedale subway station and features about 4,000 square feet spread across two levels. There are three bedrooms plus a den, three parking spaces, and an exceptional outdoor space that's complete with three private terraces including a rooftop terrace with its own pool and incredble views Neighbourhood: C2 AnnexAddress: 155 Cumberland Street (155 Cumberland)Sold price: $10,850,000Maintenance fees: $6,381/month it's not that surprising that a condo of this calibre would come with this high of monthly maintenance fees this Cumberland unit was just one of five condos to have monthly fees north of $5,000 Neighbourhood: C2 AnnexAddress: 118 Yorkville Avenue (The Hazleton)List price: $18,690,000Maintenance fees: $12,002/month While Ingram typically only reserves his awards for properties that sold he included this unit as it's an "interesting case" and "worth mentioning." With a monthly maintenance fee of $12,002 the owner would need to earn an extra $310,000 annually just to have enough after tax to pay the $144,000 in condo fees for the year Neighbourhood: W5 Black CreekAddress: 4645 Jane Street (Jane Street Condos)Sold price: $145,000DOM: 24 Since Ingram started doing these awards three years ago the least expensive condo sale in the city has always been in the same same series of four buildings located right on Jane the cheapest condo in Toronto sold for just $145,000 "Thirteen of the 15 condo sales under $200K in the city last year happened in these buildings (the other two were at 50 Old Kingston Rd) So it's pretty easy to crown in the lowest-priced building in the city they were built in 1972 and are showing their age." Additionally Ingram says the white elephant factor also holding down the values of these buildings at Jane and Shoreham is the reputation of the area 100 Harbour Street (Harbour Plaza Residences) Neighbourhood: C1 Waterfront CommunitiesAddress: 100 Harbour Street (Harbour Plaza Residences)Sold price: $93,000DOM: 1 the most expensive parking spot to sell was just shy of six digits selling for $93,000 in Harbour Plaza Residences every year the neighbourhood for the most expensive spot has been C1 Waterfront Communities and from Bathurst to Yonge Street (minus the northeast chunk from Queen to Front and Simcoe to Yonge) Neighbourhood: C1 Little PortugalAddress: 170 Sudbury Street (The Curve)Sold price: $13,000DOM: 87 Taking the title of the least expensive condo parking space is a spot located in The Curve building that sold for $13,000. Why the low price tag? The building was an Urbancorp project, which you may have heard ran into some trouble back in 2019 the builder was left with an inventory of about 40 parking spots most of which sold for varying amounts over the years 16 parking spots were listed -- 14 of them for $15,000 and the other two for $18,000 -- which ultimately gave the buyers a ton of leverage Ingram said two of the $15,000 spots sold for $13,000 each becoming the least expensive condo parking spaces to sell in the process 22 Southport Street (South Kingsway Village II) Neighbourhood: W1 High Park-SwanseaAddress: 22 Southport Street (South Kingsway Village II)Sold price: $18,000DOM: 5 The most expensive storage locker to sell in 2021 was a locker at Queensway and South Kingsway Ingram said there were no pictures or dimensions available for the locker but it's located in a building built in 1989 Ingram said the listing did mention that the locker came with "lots of wall space to accommodate shelving," plus a monthly maintenance fee of $14.57 Neighbourhood: C4 Lawrence Park NorthAddress: 177 Old Orchard GroveSold price: $2,058,000 (206% of $999,900 list price)DOM: 7 This detached home in Lawrence Park North sold for $2,058,000 which was a whopping 206% above the $999,900 listed price while this pricing strategy may leave you scratching your head Ingram said it isn't as ridiculous as the 2020 winner which sold for a similar amount ($2.05M) but had an even more ridiculous $500,000 listing price Neighbourhood: C9 Rosedale-Moore ParkAddress: 7 Rosedale RoadSold price: $6,600,000 ($2,100,000 over $4,500,000 list price)DOM: 7 This Rosedale-Moore Park home sold for more than $2 million over asking. While houses selling for significantly more than their listing price aren’t uncommon in Toronto’s perpetually dramatic real estate market $2.1 million over asking is fairly rare air the listing agent referred to the property as a "unicorn" home for the sought-after neighbourhood Neighbourhood: C9 Rosedale-Moore ParkAddress: 3 Douglas DriveSold price: $13,000,000 ($200,000 over $12,800,000 list price)DOM: 48 This Rosedale-Moore Park home isnt only notable for selling over the asking price at $12.8 million but also for going over the asking price after spending 48 days on market "If you saw a place on the market for over a month you definitely wouldn't start your bidding up there I'm guessing the sellers lucked into having two people interested at the same time and played them off against each other," said Ingram Neighbourhood: C1 Trinity-BellwoodsAddress: 219 Roxton RoadSold price: $1,550,000 (71% of $2,195,000 asking price)DOM: 64 Located in Toronto's Trinity-Bellwoods neighbourhood this home was an "Attention builders/renovators/investors" listing but the listing did mention that the home was set up as a fourplex with two units rented the home sold for $1,550,000 -- 71% less than the original $2,195,000 asking price If you've ever wanted a sneak peek into the most luxurious mansions in Toronto and did I mention they're all up for sale right now Here are the most expensive mansions for sale in Toronto right now This bright and airy modern home at 16 Forest Hill Road boasts over 10,000-square-feet of opulent living space. It was also designed and built by a dream team consisting of Richard Wengle, Jeffrey Douglas, and luxury home builders JTF Homes The mansion's timeless aesthetic glides seamless throughout the 6 bedrooms and 10 bathrooms This home located at 332 Russell Hill Road has over 9,000-square-feet of living space It effortlessly blends Forest Hill tradition with contemporary flair and boasts a massive backyard oasis pool with a waterfall wall you're sure to never get bored in this magical home Similar to many of the other mansions on this list this 16,000-square-feet home at 382 Old Yonge Street has a state-of-the-art gym and has a pool oasis along with a soccer field There are 6 bedrooms and an astounding 13 bathrooms spread throughout the mansion The primary bedroom is exceptionally luxurious As opposed to being sold for its stunning interior this home at 36 High Point Road is being sold for its potential It promises the ability to build your dream estate on an exclusive property The listing notes that the home comes with three sets of architectural plans from some of the top firms in the country: Audax, Memar Architects and Richard Wengle Each of the plans features lots of over-the-top elements such as a glass fish tank cylinder with a skylight and some of the world's finest imported fixtures this mansion at 101 Old Colony Road is most definitely a dream home and a stunning open concept layout with a clean modern design It also features heated Italian large slab porcelain floors, soaring cathedral ceilings, and a suspended walnut staircase. The place comes with a massive home theatre and a Four Seasons inspired spa too this spectacular mansion at 20 High Point Road has a water fountain at its entrance 10-bathroom home is complete with elevator access This French-chateau style mansion at 45 Bayview Ridge was designed by Canadian architect Gordon Ridgely and boasts over 15,000-square-feet of indoor living space Its Bordeaux-inspired wine cellar holds over 4,000 bottles There's seven fireplaces throughout the home The mansion faces southwest towards Rosedale Golf Club providing unobstructed views of dreamy sunsets At nearly 18,000-square-feet of living space, this mansion at 16 Stratheden Road is definitely one of the biggest on this list. It was designed and built by award-winning architect Richard Wengle, Nuvo Custom Homes and the circular driveway adds a touch of elegance to the home It also has an indoor 10-car parking garage with a hydraulic car lift This private gated estate at 11 High Point Road was featured in the cult-classic Mean Girls movie as lead character Regina George's home It has a soaring cathedral reception hall with a Scarlett O'Hara-style staircase The 18,276-square-feet home boasts 9 bedrooms and 14 bathrooms we have this jaw-dropping mega-mansion at 88 Forest Heights Boulevard It's reminiscent of a luxurious European villa and its construction included meticulous work this mansion boasts over 20,000-square-feet of marvelous living space ShareSaveReal Estate Forbes Global PropertiesWhat To Know About Toronto’s Most Exclusive Homes And Neighborhoods In 2022BySpencer Elliott Forbes contributors publish independent expert analyses and insights. Spencer is an editor-at-large for Forbes Global Propertiesfor Forbes Global PropertiesFollow AuthorFeb 25 05:00am ESTShareSaveThis article is more than 3 years old.Last year Toronto's property market saw record numbers particularly in its most desirable pockets More Here's what luxury buyers need to know about the market in 2022 Big-ticket sales in Toronto’s most coveted neighborhoods pushed annual totals to unprecedented levels, with 425 sales closing at $5 million or more and 41 sales hitting the $10 million-and-over mark, a 156% increase from the previous year. Of the 425 sales of $5 million-and-up, almost one and four homes (97) sold at or above the asking price. Bridle Path, Sunnybrook and York Mills led the way for ultra-luxe property sales in 2021, accounting ... More for 16% of sales over $7.5 million. This under-construction masterpiece on three acres in Bridle Path is currently offered customizable for CAD 45 million (about US $36.29 million). While high-end real estate can be found all over greater Toronto, affluent neighborhoods like Bridle Path, Sunnybrook and York Mills led the way for ultra-luxe properties sold, accounting for 16% of sales over $7.5 million. Although supply constraints may have limited sales in other premier neighborhoods like Forest Hill South, Rosedale and Moore Park, total luxury sales and average prices still surpassed 2020. So far in 2022, interested buyers have remained steady. In Bridle Path, where this contemporary L.A.-inspired palace is listed for CAD 25 million (about US ... More $19.5 million), properties often measure more than an acre, allowing for increased privacy and seclusion. "Demand has yet to be satisfied and the will and determination to achieve home-ownership remains unabated," Cohen wrote. "As such, we expected 2022 to follow a similar course." Here’s a closer look at Toronto’s most expensive neighorhoods and what to expect in the luxury market this year. Part of what is known as the Millionaire's Mile, the neighborhood trinity of Bridle Path, York Mills and Sunnybrook on the northern end of central Toronto is often associated with large lots, multimillion-dollar mansions and the region's biggest names. Many of the estates that make up Bridle Path, York Mills and Sunnybrook come with top-tier ... More amenities. This Bridle Path estate features an indoor swimming pool and sports court. Past and present residents include Elton John, Margaret Thatcher and Drake. Even music legend Price once called the area home (part-time, at least). Average luxury sale prices in 2021 for the area reached roughly $5.7 million, the highest in Toronto. Perhaps the crown jewel of the three, Bridle Path is characterized by multi-acre estates. Many residents choose to live in this neighborhood because of the seclusion afforded by these sizable lots and the lushness of the surrounding Don River Valley. Bordering to the northeast is York Mills, another neighborhood synonymous with affluence, whose ubiquitous presence of greenery is one of its most distinguishable features. The families of Toronto's most popular suburbs often put down generational roots. This York Mills ... More estate, listed for CAD 11.9 million (about US $9.6 million), features park-like grounds adjacent to Rosedale Golf Club. The ample space, great schools, and safety have attracted many families to Millionaire's Mile throughout the years, particularly Sunnybrook, with many residents establishing generational roots. Although the area's desirability may come in part from the isolation and countryside feel, it is not far from downtown Toronto and all of the offerings of a major metropolis, boasting "country living in the city." Old bylaws from the 1920s required that all houses in the neighborhood of Forest Hill be designed by an architect and that the front of each property feature a tree. As the years have passed, a legacy of brick and stone mansions with grand, aged trees now line the streets of Lower Forest Hill. Forest Hill South and South Hill, where this CAD 11.9-million custom home is listed, has historic ... More pedigree, a strong sense of community and a beautiful collection of new and old homes. Another member of the Millionaire Mile, Forest Hill's centralized location means an easy connection to downtown. Yet, the neighborhood is still known as a more private enclave, where commercial traffic is minimal and streets are quiet. A strong sense of community and history paired with well-manicured lawns and timeless homes has given this neighborhood its "village-like." In addition to more stately urban mansions, luxury condominiums, though infrequent, can also be found. The area also boasts some of the best schools in all of Canada—Upper Canada College, an all-boys private school founded in 1829 and Bishop Strachan, an Anglican day and boarding school for girls. The stately urban mansions of Forest Hill South and South Hill often feature a range of high-end ... More details. This 9,135-square-foot home has a designer-done kitchen trimmed in gold. In 2021, the neighborhood's prime location and valuable real estate clashed with a shrinking supply, driving average prices to $4,677,391, up 6% from 2020. Hidden just north of downtown Toronto, Rosedale is one of the city's oldest neighborhoods that, over a storied history, has emerged as one of the more fashionable areas in Canada. Both North and South Rosedale have earned Heritage Conservation Status thanks to the neighborhood's distinguished character with small, winding streets, ravine topography and elegant homes featuring classical architecture. Originally comprised of a single 110-acre estate, Rosedale's layout features ample green spaces and natural beauty, including spotting of wild roses that give the neighborhood its moniker. One of Toronto's oldest neighborhoods Rosedale has ample green spaces and natural beauty More spotting of wild roses that give the neighborhood its moniker Walkable access to high-end shopping and dining found in parts of the neighborhood set it apart from many of its similarly upscale neighbors vehicle traffic and noise are virtually non-existent accounted for 43 of the $5 million-plus sales in 2021 making it one of the most exclusive neighborhoods in all of Canada Barry Cohen Homes is an exclusive member of Forbes Global Properties a consumer marketplace and membership network of elite brokerages selling the world’s most luxurious homes there's no denying that there are some pockets in the city that are more affordable than others due to the extraordinary growth in home prices over the past few years Canada's largest city has now been recognized as one of the most expensive cities in the world some pockets in the city that are more expensive than others the cost of homes varies immensely from neighbourhood to neighbourhood If you're curious which of Toronto's 144 neighbourhoods are the most expensive, Toronto realtor and chartered accountant Scott Ingram has done some digging and found out where exactly these pricey pockets are by looking at average detached home prices by neighbourhood for all of 2020 Ingram said there are 15 neighbourhoods with the highest average sold price in 2020 New to this year's list are Kingsway South and Edenbridge-Humber Valley have been bumped from the top 15 In the case of Trinity-Bellwoods and Playter Estates-Danforth Ingram says those are low detached transaction places so it's likely a few expensive transactions brought them up last year "Of the 136 neighbourhoods with at least one detached sale in 2020 107 of them now have an average price of over $1 million," said Ingram there are only 29 neighbourhoods left under $1 million." Toronto's prestigious Bridle Path retained its 'Most Expensive Neighbourhood' crown Ingram says for each year he's made this list (since 2016) this neighbourhood has always ranked at the top Ingram says the average price in Bridle Path-Sunnybrook-York Mills(BPSYM) reached the $5 million mark again It had four of the 12 sales in the city last year that were above $10 million and also recorded the most expensive sale at $23 million you can see how those sales would bring up the average The median detached sold price was "only" $4,345,000 (up from a median of $4.3M in 2019) As for the average price of a detached home in BPSYM in 2020 Ingram said a 2+2 bedroom and 4-bathroom house on an 80' x 130' lot sold for within $20,000 of the area's $5,104,000 average price The listing touts it as an "Architecturally Stunning Custom Home" with "Top Quality & Utmost Attention To Detail." It was built in 2010 If you're curious what the least expensive neighbourhoods are "It's interesting to look back and see as recently as 2015 the number of neighbourhoods with detached houses averaging $750K or less (54) was about the same as the number of million-dollar neighbourhoods (52) Now with Mount Dennis jumping from $653K to $780K in the last year there are no neighbourhoods under $750K," said Ingram there are now more neighbourhoods over $2 million (32) than there are left under $1 million (29) Given that home prices in the Toronto area are expected to increase 11% to $1,035,000 in the fourth quarter of 2021 it'll be interesting to see how this brings up the average price in Toronto's different neighbourhoods we will see a new area make it on to Ingram's list in 2021 A massive Toronto mansion is just one of the latest luxury listings to hit the market giving an inside look into how the wealthiest one per cent of Toronto are living This 10,600-square-foot home at 167 Valley Road is located in Toronto's exclusive Bridle-Path/Sunnybrook-York Mills neighbourhood and was designed by renowned architect Richard Wengle The five-bedroom, nine-bathroom home last sold for $9.38 million, but is currently on the market for $10.75 million after several elements were redesigned by C3D Design The opulent foyer features a solid wood entry door with glass side lights and a window with custom drapery that overlooks the front gardens The chef-inspired kitchen features an open design to the breakfast nook The kitchen is attached to a dining area with ample window coverage letting natural light fill the space The family room was redesigned in 2020 and comes with an open hearth gas fireplace with a stone mantle as well as open windows that overlook the rear gardens You can access the primary bedroom through massive double doors and two Juliet balconies overlooking the rear gardens a free-standing deep soaker tub with an antique-style faucet there's also a playroom that makes this a desirable space for a wealthy family with young children Also redesigned in 2020 the home theatre room features built-in speakers and comfortable seating to soak in a flick which many of the mansion's windows overlook features a spacious pool and lots of room to soak up some sun this luxurious mansion doesn’t come cheap and is currently on the market for a whopping $10.75 million RE/MAX / Barry Cohen Homes ShareSaveCommentReal Estate Forbes Global PropertiesWoodsy Designer Home Hits The Market On Toronto’s Millionaire’s MileByMary Forgione Spacious multimillion-dollar estates on large lots line the streets of Toronto’s ultraluxury neighborhoods collectively known as Millionaire’s Mile Sunnybrook and Forest Hill account for the wealthiest areas in the Canadian city The 8,500 square feet of stylish living space weds modern with traditional. The house with four bedrooms and four bathrooms in 8,500 square feet is a one-of-a-kind designer’s home on three levels. The main level holds the dining room, living room and an office as well as a spacious kitchen with 12-foot ceilings. The kitchen has large windows that face the outdoors as well as bar seating and room for a table and chairs for informal meals. It comes with a custom La Cornue gas cooktop stove with two ovens, wine room, large pantry, a serving counter and two wine refrigerators. A glass wall creates separation for the dining room. The formal dining area has a central chandelier and glass panels that separate the room from the rest of the house. The living room has floor-to-ceiling doors and a fireplace. The second floor includes a primary suite with balcony and two additional bedrooms with en-suite bathrooms and walk-in closets. The lower level features the fourth bedroom with en-suite bathroom as well as a family room, exercise room, bathroom with sauna, extra laundry room, mud room and access to the backyard and swimming pool. The neatly landscaped backyard with a pergola, outdoor fireplace and children’s playground can be used for entertaining or relaxing. An eating area sits off the kitchen near wine storage the neighborhood has two public school systems (one English-speaking and one French-speaking) as well as private schools there’s easy access to Toronto by way of a subway line and two bus lines from York Mills Center The backyard contains a swimming pool and a trellis-covered patio with an outdoor fireplace This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. 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Or sign-in if you have an account Reviews and recommendations are unbiased and products are independently selected Postmedia may earn an affiliate commission from purchases made through links on this page it’s no surprise the neighbourhood has grabbed the attention of celebrities around the world Create an account or sign in to continue with your reading experience we take a look at the celebrities who have taken the time (and money) to enjoy the Bridle Path was owned by Shark Tank favourite and owner of global cybersecurity firm Herjavec Group 10-garage estate features an indoor swimming pool as part of its 33,650 square-foot living space The property has also acted as a concert venue for Michael Bublé when Herjavec’s family hosted a fundraiser gala it’s been rented to Rolling Stones frontman Mick Jagger Prince’s former Toronto home on 61 the Bridle Path is currently listed at $16,910,000 The late Grammy award winning performer purchased the property after marrying Toronto-native Manuela Testolini in 2001 A bungalow with “a dramatic flow and a majestic ambiance for entertaining on a global level,” it holds around 14,280 square feet of living space on over two acres of land he didn’t get to keep the Toronto home after he and his wife finalized their divorce in 2007 In the past it’s hosted a party for Jane Fonda with former prime minister Pierre Elliott Trudeau another famed guest It’s been blessed by Toronto’s former archbishop and has served as the set for TV shows such as Suits features a basketball court in the basement to go along with other amenities such as a singing toilet To make sure he has enough privacy when using the John Drake also received an exception from a Toronto bylaw so that he could build fences higher than the city limit of six-and-a-half feet after he purchased the property in 1999 for $3.8 million which features five bedrooms and five full bathrooms Lightfoot was still known to write songs in a mahogany-lined room that overlooked his front lawn he’s looking forward to having Drake and his family among his neighbours “I’m very proud of the fact that [Drake] would choose to move next door to me,” Lightfoot told the Canadian Press an indoor pool and even a two-storey library in which Regina George (played by Ontario’s own Rachel McAdams) brought Cady Heron (Lindsay Lohan) over to her home transmission or republication strictly prohibited This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy You can manage saved articles in your account It can (and has) been argued that economic inequality is one of the most important social justice issues facing the world today with the ever-growing wealth gap linked to everything from racial disparities in education to shorter life expectancies for low-income Canadians Nothing illustrates this stark divide in life circumstances better than an urban housing market In Toronto, wealth and poverty are physically manifested across the city in the form of crammed apartment buildings, gleaming condo towers, poorly-maintained community housing complexes, million-dollar rowhouses and staggeringly spacious mansion estates While massive houses and luxury condos are expensive in terms of absolute costs a new report shows that they're actually cheaper for residents of Toronto's richest neighbourhoods (relative to their income) than a humble apartment would be for a resident in one of the city's poorest neighbourhoods "Proportionally speaking, the very rich spend far less on their shelter costs than the rest of us do," reads the report, which is entitled "Cheap Mansions and Expensive Apartments: Why the rich pay less and the poor pay more." Published over the weekend by John Stapleton's social policy consultancy Open Policy Ontario, the report explores "proportional housing costs" in all 140 of Toronto's distinct neighbourhoods using data from the most-recent Canadian census Stapleton and his colleagues Richard Maaranen and Yvonne Yuan identified the top 10 richest neighbourhoods in Toronto based on income as well as the city's 48 poorest neighbourhoods and the "very richest" neighbourhood within the top 10 (Bridle Path/Sunnybrook/ York Mills.) The analysts found that residents of the Bridle Path neighbourhood put just 8 per cent of their income Among the top ten richest neighbourhoods (which include Rosedale Lawrence Park and Kingsway South,) residents spend an average of 12 per cent on housing residents were found to spend 24 per cent of their income on housing on average with renters paying nearly 26 per cent of their income per month and home owners in poor neighbourhoods spending 19.5 per cent "Comparing the average percentage of income paid towards shelter is an important measure of housing inequality," reads the report the rich pay more for anything they consume than the poor do.. where the benchmarks are mansions and apartments the rich pay the least and the very rich pay hardly anything." Stapleton and his colleagues draw the following conclusions based on their analysis of proportional housing costs in Toronto's richest and poorest neighbourhoods though they also note trends vary among the 82 "other" Toronto neighbourhoods that are neither rich nor poor The report's authors also illustrate through a series of graphs just how wide the income gap is between residents of rich and poor residents with the richest pulling in an annual household income of $439,563 and the 48 poorest neighbourhoods averaging $60,118 some readers may be struck by how narrow the gap appears between low-income neighbourhoods and 'other' neighbourhoods in Toronto The average household income difference is less than $20,000," reads the report The paper points to Amazon founder Jeff Bezos buying a record-breaking $165 million house in California to illustrate the reality of proportional housing while the estate is exorbitantly expensive it's equivalent to only one third of one per cent of the billionaire's net worth this would be like spending $75 on a house "Throughout the Canadian and other first-world economies we are starting to see a convergence between low and middle incomes while the rich are pulling away from the rest of us," concludes the report "This convergence is evident in the proportional cost of housing." Sotheby's International Realty You will also start receiving the Star's free morning newsletter the more than 5,000-square-foot home at 20 High Point Rd The property have been on the market for a year and was also listed every two years from 2008 to 2016 “They’re white elephants,” said realtor Othneil Litchmore “The things are so unique that they just can’t be sold.” “They’re white elephants,” said real estate expert Othneil Litchmore It’s no secret that megahomes in Toronto’s Bridle Path are accessible only to few They carry price tags in the millions of dollars and often sit on the market sometime before they’re sold But one home in the exclusive area where Drake resides is currently listed for $20 million and has been on and off the market for 15 years jumping nearly $1 million in price each year from its 2007 sale price of $5,750,000 Ongoing GTA Home Hunt real estate expert Othneil Litchmore weighs in on the seller’s likely motivations what the market is like in the area and how long others have been waiting to sell their mansions Neighbourhood: Bridle Path-Sunnybrook-York Mills the property also features a walkout basement a “gardener’s apartment with a separate entrance,” and elevator access to all three levels of the home — not to mention a water fountain on the driveway “It’s (a property) for people that do a lot of entertaining — a record executive it has most recently been on the market for nearly a year and was also listed every two years from 2008 to 2016 costing $53,000 per month each time — a hefty price tag for an average person but a deal for someone looking to live lavishly without committing to owning a home of this size the home does appear to be a little outdated which may factor into why it hasn’t sold recently — a property made famous by the 2004 movie “Mean Girls” — is listed for $23,800,000 That property features a more modern appearance fresher landscaping and more bedrooms and bathrooms relatively cheaper properties (around the $9 million mark) have sold in mere weeks while others have sat on the market for months before being snatched up But needed renovations and cheaper properties nearby might not be entirely the reason 20 High Point Rd especially as both foreign and domestic buyers looking for expensive and status-driven new digs may view the Bridle Path as the place to be “Something tells me the seller isn’t very motivated to sell,” said Litchmore “The fact it’s on the market for as long as it is it’s more of a reflection of the seller’s motivation than it is of any market conditions.” Or, Litchmore said, it could be a situation similar to Michael Jordan’s, who has been trying to sell his Chicago mansion for the past 10 years, for which he pays more than $100,000 in annual property taxes, according to Business Insider That 56,000-square-foot property on seven acres of land was originally listed for $29,000,000 “The things are so unique that they just can’t be sold.” famously one of Toronto’s most exclusive neighbourhoods is one of the only places in the city to find properties like this if you can swing the multimillion-dollar price tag that comes along with it and the risk of sitting on the property for a while when you decide you’re ready to leave Your browser is out of date and potentially vulnerable to security risks.We recommend switching to one of the following browsers: Account processing issue - the email address may already exist Invalid password or account does not exist Submitting this form below will send a message to your email with a link to change your password An email message containing instructions on how to reset your password has been sent to the email address listed on your account 2014This article was published more than 11 years ago A new measure is being used to rank Toronto's neighbourhoods – the "neighbourhood equity score" which combines ratings for economic opportunity participation in decision-making and physical surroundings change the way Toronto's 140 neighbourhoods are evaluated by city staff when they decide where to direct services The new rankings are likely to set off a lively debate about the city's role in providing social services and what areas of the city are most deserving of extra funding and attention – all against the backdrop of the fall civic election The new measures were developed in conjunction with researchers at St Michael's Hospital's Centre for Research on Inner City Health and are adapted from work done by the World Health Organization Welcome to The Globe and Mail’s comment community. 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