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rfmcdonaldCBC News' Trevor Dunn reports from suburban Toronto.
When Mike Minelli decided to move his growing family from a downtown Toronto condo to Durham region, he was expecting a little relief from the city's red hot real estate market.
Instead, he found himself in a competitive market where, over the past year, the average price of a home has increased 14 percent more than in Toronto.
"It's unbelievable," Minelli said in an interview.
"In one minute, my wife and I decided to offer $40,000 more," he said of the first house they tried to purchase in Durham, which attracted 13 offers.
"We lost that one."
According to a new report from Royal Lepage, the strongest growth in Greater Toronto Area real estate prices over the past year is happening outside of Toronto.
