10/26/2026
Toronto Condo Supply Faces Tariff Exposure
Toronto’s condo market is feeling the effects of rising material costs and fewer new builds—a combination that leaves the city particularly vulnerable to supply-side price pressures. According to a federal construction index, fabricated metal costs jumped 2.1% this past quarter, while structural steel climbed 1.8%. With Toronto’s ongoing reliance on steel-intensive construction, these increases hit hard, especially as new condo starts have slowed dramatically. The takeaway for our market is clear: less construction activity, paired with steeper costs for essential materials, has amplified the risk of price shocks in new supply. As someone who’s spent nearly two decades analyzing GTA real estate trends and guiding clients through market shifts, I’m always watching these economic signals closely. It’s another reminder of how interconnected development costs and housing supply truly are in the GTA.
