28 December 2018

Vancouver builds 1.2 units per newcomer, while in Toronto it’s only 0.5. Vancouver’s high rate of construction will probably affect pricing. When more units appear at the market amid restrained demand, builders tend to compete and cut the prices.

Immigration keeps pushing demand for Toronto real estate

There are numerous challenges for the housing demand in Toronto, including rising interest rates and mortgage stress test, but immigration isn’t on this list.

TD expects population growth to be healthy in the nearest future, and some cities will take more advantage of it than others.

“As many new Canadians choose Toronto and Vancouver, the demand conditions are likely to remain healthy,” – TD Economics says.