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The Toronto Condo Market This Week (September 11, 2015)

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condo market news piece september 11

Condo surge pushes pace of housing starts to highest level since 2012

Builders picked up the construction pace in August, breaking ground on new condos at a breathtaking speed and pushing the annual pace of overall housing starts up to its highest level since September 2012.

No sign of slowdown in Toronto as agents prep for fall housing market

Economists taking a macro view of Canada’s real estate market are keeping an eye on financial market volatility, the outlook for global growth, fluctuations in oil prices and the Canadian job market.

Underbuilding set to fuel Toronto house prices, says report

Contrary to recent reports, housing starts are below demographic fundamentals and the city is expected to experience years of underbuilding – leading to further unit appreciation, according to the Fall 2015 Market Manuscript from Fortress Real Developments.

Investors are reshaping the Toronto high-rise condo market

At an average price of $515 per square foot, that’s likely a stretch for the average first-time buyer to afford at $445,000. If young professionals want to be in the action, they’ll have to settle for less square footage and a higher price