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The price of a home within the Greater Toronto Area (GTA) has hit record levels.  The Toronto Real Estate Board recently released their April 2014 figures which showed that the average resale price in the GTA for all product types reached $577,898 while detached homes were averaging $730,328.  In regards to the new home market, statistics for March taken from Realnet, show that the average price of a new home (all product types) was found at $657,961 while a new detached home was averaging just below $800,000…..the word ‘affordable’ has all but vanished from vocabulary when describing the housing market in the GTA.  All but vanished, save for Durham Region where buyers of new homes can still find a strong “price to value” relationship…..townhomes priced under $325,000 and single detached homes at under $500,000 comprise the lionshare of new home product found in Durham Region.  It is interesting to note that many of the buyers now purchasing in Durham Region previously resided in the east-end of the former City of Toronto and in communities within York Region…..there reason for buying in Durham “more bank for my buck”…..why settle for a townhome when they can buy a single detached home in Oshawa or move from a small lot single detached home to a 40 or 50 foot lot in Durham for the same money.  As affordability becomes more and more constrained within the GTA….north and west….the east has a whole lot more to offer!