Prices for newly built condominium apartments moved in opposite directions in Ontario’s two largest markets during the third quarter of 2026, falling 0.8 per cent in Toronto while increasing 1.6 per cent in Ottawa–Gatineau (Ontario part).

The figures, released November 3 in Statistics Canada’s New Condominium Apartment Price Index, show an overall decline of 0.6 per cent across the nine Canadian metropolitan areas included in the survey.

Ottawa–Gatineau recorded the largest quarterly increase among the markets surveyed, while Toronto was among five metropolitan areas where prices declined.

Toronto’s price index stood at 127.6 in the third quarter, compared with 143.9 for Ottawa–Gatineau. Both figures use 2017 as a base of 100, representing changes in prices since that year rather than the average selling price of condominium units.

Elsewhere in Canada, Victoria recorded the largest quarterly decline at 1.8 per cent, followed by Vancouver at 1.0 per cent. Prices also fell in Edmonton by 0.7 per cent and Calgary by 0.3 per cent.

Montréal recorded a 0.7 per cent increase, while prices remained unchanged in Halifax and Québec City.

Statistics Canada’s index tracks changes in developers’ selling prices for comparable units in newly built apartment-style condominiums. Prices are standardized by square footage and adjusted for differences in unit quality, allowing the index to measure price movements without distortions caused by changes in the types of units available.

The figures do not reflect condominium resale prices, transaction volumes or changes in average selling prices. The index is also not seasonally adjusted.

The contrasting results in Toronto and Ottawa illustrate the differences in new condominium pricing conditions between Ontario’s major urban markets, even as prices across the nine-city composite continued to decline.