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Latest Stories

16th Jan 2025

New Condo Sales in the GTHA Drop to 28-Year Low

2024 was a challenging year for new condos in the Greater Toronto and Hamilton Area, with 14 projects canceled, eliminating 2,805 anticipated units. Declining presales hit their worst since 1996, with just 4,590 transactions, down 64% from 2023. Unsold inventory reached a record high, suggesting prolonged market strain.

Read the full story by Storeys.

30th Oct 2024

GTHA Condo Rents Cool Down After Supply Surge

Condo rents in the Greater Toronto and Hamilton Area (GTHA) dropped by 3.8% in Q3 2024 amid a surge in new completions, up 132% from last year. The average rent fell to $2,762, with Toronto seeing a 4.8% decline. This increase in supply has temporarily eased rental rates.

Read the full story by Storeys.

20th Oct 2024

GTHA Quarterly Condo Sales Reach Lowest Level Since 1995

Since 2022, 33 condo projects across the GTHA have been altered, cancelled, or placed into receivership due to high interest rates and market shifts. 6,800 condo units were affected, with some being converted to rentals. Sales of new condos have dropped significantly, marking the lowest quarterly total since 1995.

Read the full story by Storeys.

25th Jul 2024

Over 24,000 New Condo Units Are on Hold in the GTHA

76 new condo projects in the Greater Toronto and Hamilton Area are on hold due to poor market conditions. This slowdown in new construction is primarily due to higher interest rates, resulting in only one high-rise launch this year. These delayed projects were expected to add 24,335 new units to the region.

Read the full story by Storeys.

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EMSubscriber since December 2024
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SDSubscriber since June 2024
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SGSubscriber since June 2024
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SBSubscriber since December 2024
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