Published Thursday, Aug. 17, 2017 8:00AM EDT Last updated Thursday, Aug. 17, 2017 8:00AM EDT
In the midtown Toronto areas of Leaside and Davisville, the real estate market has been bouncing between optimism and despair like a yo-yo.
Patrick Rocca, a real estate agent with Bosley Real Estate Ltd., has concentrated much of his business on the tree-lined streets radiating out from Bayview and Eglinton Avenues. The mainly traditional detached houses of Leaside appeal to well-heeled families who want room for the kids to run around. Swimming pools and home ice rinks are not uncommon in the spacious backyards. The slightly smaller lots and houses of Davisville are a little more affordable, in most cases, and especially popular with younger couples pushing strollers.
But even in those stalwart family neighbourhoods, real estate deals can be hard to put together these days, says Mr. Rocca, who has been shocked by the market’s swings.
“You knew something was going to happen. It was mind-boggling. It was scary,” he says of the market’s unfettered rise in the spring and the Ontario government’s moves to tame it. “I knew something was going to happen – I just didn’t know how quickly it was going to stop.”