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1. • • Only 727 new condo units started construction in the second quarter, a 20-year low, according to Urbanation. With Toronto, and Canada more broadly, facing a shortage of housing that’s keeping prices out of reach and rents at record highs, the slowdown in future supply runs counter to policymakers’ efforts to boost building.
     www.bnnbloomberg.ca/business/real-estate/2024/07/18/toronto-condo-developers-see-lowest-new-unit-sales-in-27-years/

     Toronto condo developers see lowest new unit sales in 27 years

2. People also ask

   Why did Toronto's new condo sales fall in the first quarter?

   • The CN Tower behind condos in Toronto's Liberty Village. Photo by Cole Burston/The Canadian Press files Sales of new condos in Toronto plunged in the first quarter of 2024 as a rising inventory of unsold units and soaring construction costs put a damper on the once booming market.

   Has the great Toronto condo boom finally hit a wall?

   financialpost.com/real-estate/great-toronto-condo-boom-finally-hit-wall

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   Will condo sales slow down new development in Toronto?

   • If condo sales slow, it will slow down new development for the region.” Total unsold new condo inventory increased 41 per cent year over year to 22,477 units. Hildebrand said this level of condo glut has never been seen in the Toronto market. Also concerning, he added, is the number of pre-construction projects that simply aren’t selling.

   Record high number of new GTA condos going unsold - The Toronto Star

   www.thestar.com/real-estate/a-record-high-number-of-new-condos-are-going-unsold-in-the-gta/article_1025d614-c110-11ee-8ade-8f193b1adb24.html

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   Will condo sales slow down new development in GTA?

   • “The majority of new housing in GTA is in the form of condo sales. If condo sales slow, it will slow down new development for the region.” Total unsold new condo inventory increased 41 per cent year over year to 22,477 units. Hildebrand said this level of condo glut has never been seen in the Toronto market.

   Record high number of new GTA condos going unsold - The Toronto Star

   www.thestar.com/real-estate/a-record-high-number-of-new-condos-are-going-unsold-in-the-gta/article_1025d614-c110-11ee-8ade-8f193b1adb24.html

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   How many new condo units are sold in Toronto?

   • A report from condominium research firm Urbanation this week showed sales of new condo units in The Greater Toronto and Hamilton Area (GTHA) reaching levels reminiscent of the late 1990s in the first three months of the year, with just 1,461 new condo units sold.

   Has the great Toronto condo boom finally hit a wall?

   financialpost.com/real-estate/great-toronto-condo-boom-finally-hit-wall

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3. storeys.com › toronto-condo-construction-cliffNew Condo Construction In Toronto To “Fall Off A Cliff”

   storeys.com › toronto-condo-construction-cliff

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   6 days ago · Earlier this year, on June 6, the City of Toronto increased development charges on Toronto condos as a result of Bill 185. They made this move quietly, so to speak, and on the heels of a 20.7% increase on May 1.

4. www.theglobeandmail.com › business › article-newNew condo sales in the Toronto area hit 15-year low

   www.theglobeandmail.com › business › article-new

   • Cached

   Apr 22, 2024 · New condo sales in the Toronto region dropped to their lowest level since the 2009 financial crisis, with investors balking at lofty purchase prices and higher borrowing costs. The slowdown...

5. www.bnnbloomberg.ca › business › real-estateToronto condo developers see lowest new unit sales in 27 years

   www.bnnbloomberg.ca › business › real-estate

   Jul 18, 2024 · Sales of newly built condos in Canada’s largest city fell 57 per cent from last year, to just 3,159 transactions in the first half of this year, consultancy Urbanation said in a report Thursday. That’s the fewest in the first half of a year since 1997, helping unsold inventory rise to a record.

6. www.thestar.com › news › gtaNew construction condo sales hit 15-year low - The Toronto Star

   www.thestar.com › news › gta

   Feb 1, 2023 · The Toronto region’s new construction condo market took its first real pause in 15 years in the second half of 2022, according to Urbanation, a market research firm that tracks GTA...

7. financialpost.com › real-estate › great-torontoHas the great Toronto condo boom finally hit a wall?

   financialpost.com › real-estate › great-toronto

   Apr 23, 2024 · Sales of new condos in Toronto plunged in the first quarter of 2024 as a rising inventory of unsold units and soaring construction costs put a damper on the once booming market.

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9. www.thestar.com › real-estate › a-record-high-numberRecord high number of new GTA condos going unsold

   www.thestar.com › real-estate › a-record-high-number

   Feb 1, 2024 · Faltering pre-construction condo sales and a record high inventory of unsold suites across the Greater Toronto Area could spell doom for Ontario’s planned housing boom, a new data study shows.

10. toronto.ctvnews.ca › toronto-new-condo-salesToronto real estate: New condo sales plummeted to 27-year low ...

    toronto.ctvnews.ca › toronto-new-condo-sales

    Jul 18, 2024 · New condominium sales plummeted to a 27-year-low during the first six months of 2024 as a “sharp downturn in construction starts” in Toronto continued to impact inventory levels, a new report...