The second quarter was a good period for sales of condos in Toronto, driven by supply.
Figures from the Toronto Real Estate Board show a 10 per cent increase in Q2, following a nine per cent annual gain in Q1. The average selling price was up 5.6 per cent to $367,010.
Investors account for around a quarter of the purchases as the rental market is hot in the city but there has also been a shift in choices made by those with young families and baby boomers, who along with professionals are opting for condos as a more affordable purchase than single-family units.
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