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Rent prices in some parts of the Greater Toronto Area that faced massive declines due to the COVID-19 pandemic are starting to pick up, according to a new report, but other parts continue to struggle.
These Toronto neighbourhoods have seen rent prices drop by more than 30% since last year
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Toronto rent prices continue to stabilize after more than a year of steadily freefalling amid the COVID pandemic, but as 2021 rolls along under a lockdown that just won t seem to end, it should still be a while before we actually see an actual rebound.
In fact, some neighbourhoods across Canada s largest city are still marking both year-over-year
and month-over-month rent declines. For most of 2020, the average rent per square foot steadily declined, ending the year at $2.76 per square foot in December 2020. In April 2021, the average rent per square foot was $2.78, reads the latest Toronto GTA Rent Report from Bullpen Research and TorontoRentals.com.
The history of the Forest Hill neighbourhood in Toronto
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Forest Hill is Toronto s neighbourhood for all things wealthy. It s known for its large homes and close proximity to downtown, but these perks come with a hefty price tag.
The neighbourhood is divided into Forest Hill North and South, but its borders aren t as simple to mark as other Toronto areas. The North is bounded by Briar Hill, Eglinton, Latimer and Marlee avenues, as well as Allen Road.
An aerial view of Forest Hill in 1935.