On June 29, 2026, the Royal Bank of Canada had released a study that suggests that it is now easier to buy a condo in Toronto. According to RBC, the condo affordability measure had improved to 35.2 percent of median household income in Q1 2026, returning near pre-pandemic levels due to lower prices and rising incomes. Toronto condo prices have declined sharply in recent years and are nearly back to Q4 2019 levels.
Read the report here: https://www.rbc.com/en/economics/canadian-analysis/canadian-housing/housing-affordability/improving-housing-affordability-continues-in-most-canadian-major-markets/
Toronto condo icon, Brad J. Lamb has stated, “Prices are probably 50 per cent below where they should be. It’s never going to be cheaper than now, yet people don’t think it’s cheap enough.”
As for the RBC study, it is important to note that this had occurred even as consumer insolvencies had reached record highs not seen since 2009 because RBC’s measure focuses on median household data rather than financial distress indicators.
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E: LDALINDA@DALINDA.NET • TEL: 416-725-7170
Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.