Premier Doug Ford relists home for 400K less in the midst of major housing correction

It may be a premier listing, but even the home of Doug Ford and his family can't escape the cooling real estate market.

Ford and Karla Ford originally listed their six-bedroom Etobicoke home at almost $3.2 million, but the residence in the upscale Princess Anne Manor neighbourhood near The Kingsway was relisted Tuesday at $2,800,888.00.

In an exclusive interview two weeks ago in Victoria, where Ford attended the annual summer meeting of Canadian premiers, he told the Star that he felt it was time to move, as my kids are getting older and they're going to be getting married off and having grandchildren."

The couple is moving into his late mother's home nearby, which has sat empty since family matriarch Diane Ford died in January 2020.

Property records show the Fords, who have four adult daughters, bought the Princess Anne Manor home on July 30, 1998 for $535,000.

The $400,000 drop in the current listing price reflects the current housing market, which has been slowed by inflation and rising interest rates.

The country is in the midst of a major housing correction, and a recent report from RBC said prices could fall by more than 12 per cent by early next year. That drop, however, follows a huge boost in prices during the pandemic as demand soared.

Etobicoke realtor Monica Thapar is selling the Fords' home. As first reported by the Star, she was asked to stop using his name and image in her advertising brochures after sending out thousands of full-colour flyers that boasted we just listed Premier Doug Ford's home in Princess Anne Manor!"

Kristin Rushowy is a Toronto-based reporter covering Ontario politics for the Star. Follow her on Twitter: @krushowy