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

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

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 theToronto 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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Kevin Ikeda Chen

Kevin Ikeda Chen

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