The report, published Thursday, says that if supply overtakes demand there could be a sharp correction in prices. Condos are particularly in focus.
The report notes that: "In light of its hotter price performance over the past 3-5 years and greater supply risk, this vulnerability appears to be comparatively high in the Toronto market
TD says that “excessive homebuilding” in the city, and in Vancouver
, is likely to mean a decline in sales in 2016. Prices are increasing faster than wage increases which is another factor putting prices at risk.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Waterloo, Central Blissville, Rhodes Corner, Neudorf, Sainte-Cécile-de-Whitton
TD Economics says that there is a “comparatively high” risk of a price drop in