Chance of price drop in Toronto “comparatively high” says TD

TD Economics says that there is a “comparatively high” risk of a price drop in Toronto.

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.

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