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.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate


More market watch: