This chart is projecting the average house price in Ontario over the next 10 years based on historical growth rates. To predict future prices, we've taken the current average house price of $815,740 and applied the average annual increase, which is calculated at approximately 6.27%. This method assumes the same rate of growth will continue, which gives us a forecast of around $1.53 million for the average house price in a decade. It's important to note that this projection is an estimate, not a guarantee. It uses historical data to extrapolate future values, which means it doesn't account for unexpected changes in the market or economy that could affect actual house prices. This projection is useful for understanding potential trends based on past performance, but it should be considered alongside other factors that can influence housing markets.