Understanding the Turnover Trends in New Condo Development Projects in Toronto and the GTA
When looking at the 2018 sales of over 130 downtown Toronto Condos, the average market turnover is 6.35%, but this number doesn’t tell the whole story.
Condo turnover relies greatly on several factors, including age, region, demographics, size, and others. We’re going to be analyzing the facts and figures behind turnover for new condo development projects in Toronto and the GTA.
The following is a chart showing the average turnover and year of construction of the condos in a region of the GTA.
|Area||Average Turnover||Average Year of Construction|
|St. Lawrence Market||6.24%||2004|
What exactly causes the differences among these rates?
We can’t pinpoint how price affects the turnover rate for these regional condos. Liberty Village, which has the highest turnover, generally has the lowest prices when it comes to the condo market, and retail investment is common in the area.
At the same time, CityPlace and Fort York both have relatively low prices as well, and their turnover rates are considerably higher. It seems that price isn’t a major factor in turnover.
We can discern 3 major trends from 2018’s condo turnover statistics.
Are you researching new condo development projects in Toronto and the GTA? Factors like turnover rate, demographic, and price are all useful metrics whether you’re participating in the market directly or investing in certain condos to sell for profit later.
One resource you might be interested in is the Tomycity newsletter, an exclusive source for information on new condo development projects throughout Toronto. Gain early access into downtown projects well before they go live with TOmycity.
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