Toronto condo market unlikely to see jolt as conditions vary elsewhere in Canada [Video]

Experts say the Greater Toronto Area condo market is unlikely to awaken from its lull any time soon even as other major Canadian cities see somewhat more promising demand.

As supply continues to pile up in the GTA, some say affordability is still a key problem holding would-be buyers back from placing their offers, despite the fact that borrowing costs have come down over the past year.

“Sure, the rates have fallen … but it’s still not night and day difference,” said Brendon Cowans, a sales representative for Toronto-based brokerage Property.ca.

“There’s still a lot of things going on where it’s tough for people to get into the market. The dollar is not as strong, the money that people are making hasn’t increased significantly.”

Real estate watchers have described 2024 as a record year for condo completions in the region and Cowans points to more recent figures that show a …