Report: New condo activity has moderated in Toronto

There was a 58 per cent decline in new Toronto condo developments during the first quarter of this year, according to a new report.

Urbanation said that the drop will be temporary, but that it has created a sellers’ market in parts of the city. There were sales of 4,432 condos in the first three months of this year, down 10 per cent from the same period last year.

The study revealed that there is demand for condos in the GTA, but there has been a slowdown in supply. Developers delayed land purchases in 2013 due to a sharp drop in sales and the time from acquisition of land to condos being sold can be a few years so it could be a while before supply catches up. 

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:
Matane, Fort-Coulonge, Stanchel, Westholme, Port Hardy


Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address


Is a T.O foreign sales tax a good idea?