GTHA condo market falls to 35-year low, report shows
Global News
Only 319 units were sold in July, August and September, down 54 per cent compared with the same period last year and 92 per cent below the 10-year average for this time of year.
Once the country’s hottest real estate region, the Greater Toronto and Hamilton Area condo market hit a 35-year low this year, according to a new report by real estate research firm Urbanation.
Only 319 units were sold in the third quarter of 2025, down 54 per cent compared with the same period last year and 92 per cent below the 10-year average for this time of year.
“The condo market has clearly become depressed as it undergoes a difficult correction following excessive growth that emerged during the COVID-19 pandemic,” Shaun Hildebrand, president of Urbanation, said.
While the number of sales is the lowest it has been in 35 years, the number of condo projects that were cancelled after starting construction was at a record high.
According to the report, 10 projects with a total of 2,499 units were cancelled in these three months, bringing the total number of cancellations this year to 18 projects and 4,040 units.
Some experts say this will constrict supply in the future.
“The lack of activity occurring today will surely lead to a lack of supply in a couple years, helping to restart the engine for the market,” Hildebrand said.
However, the cancellation of projects and a lack of new supply has meant that the number of unsold new units declined two per cent compared with last year’s high of 22,602 unsold condo units in July, August and September.
Dashcam video shows the wild scene as a vehicle crashed into two parked cars at a high speed on Shaunslieve Drive in Bedford.
City of Wetaskiwin officials have issued a statement on the decision to ban Mayor Joe Branco from city hall — but it does little to clarify the ongoing situation.
An Abbotsford woman who was sexually abused as a child is speaking out after suffering years of abuse at the hands of her stepfather, starting at the age of just 12 years old.
Technology Minister Nate Glubish says such images, known as deepfakes, can cause people serious harm and that changing the law should create a new layer of protection.
Renters in Quebec may soon have final say over whether they're allowed to keep pets in their homes following a legal ruling that no-pet clauses in leases violate Charter rights.
Alberta RCMP say they have located a Grey 2022 Ford F-150 involved in the fatal highway shooting of an Edmonton man earlier this month. The suspect remains at large.
Education Minister Paul Calandra, however, said he won't use the notwithstanding clause if he moves to eliminate trustees in Ontario.
U.S. President Donald Trump said on Sunday that he would order federal immigration agents to airports to assist TSA. Canadians landing the U.S. should be prepared.
Three overpasses in Saskatoon have been hit in the past three weeks, with charges announced against the driver in the first incident.
Auditor General Karen Hogan says there are critical weaknesses in the integrity controls for the International Student Program.
Return trips by Canadian residents from the U.S. fell 22 per cent in January compared with a year earlier, according to the latest data.
Three byelections are being held on April 13 and the results could have an impact on both the makeup of Parliament and how long it lasts.
Ontario's provincial members of parliament are heading back to Queen's Park Monday, as the legislature sits for the first time since December.