The price gap between Toronto-area condos and low-rise homes hit its highest point last year, say industry insiders.
The difference in price between low- and high-rise homes stood at a record high of$251,337 in 2014, said a strategic review of the Greater Toronto Area's (GTA) new home market that came out Wednesday.
The average price for a high-rise home jumped to $454,476, up four per cent from 2013. The average low-rise home, meanwhile, rose eight per cent to $705,813.