Harbourline Home Research
New Homes Incentive LedgerWeek 40 · 8 October 2026
New Homes Incentive Ledger · Greater TorontoData to 4 October 2026
Builders cut deposits rather than prices
Eleven projects lowered their deposit schedules in September. Only three cut list prices, and average asking prices moved by less than one per cent
1Incentives in force
Of the 64 condominium projects selling in the Greater Toronto Area at the end of September, 41 asked for less than 15 per cent in deposits before occupancy and 30 offered a cash or closing credit. Asking prices averaged CA$1,286 per square foot, against CA$1,295 at the end of August.1
| Region | Active | Deposit under 15% | Cash or closing credit | Free assignment |
|---|---|---|---|---|
| City of Toronto | 31 | 19 | 14 | 22 |
| York Region | 12 | 8 | 5 | 7 |
| Peel Region | 10 | 7 | 6 | 6 |
| Halton Region | 6 | 3 | 2 | 3 |
| Durham Region | 5 | 4 | 3 | 2 |
| Greater Toronto | 64 | 41 | 30 | 40 |
Source: builder price lists and project pages, sales centre visits, municipal building permits, Harbourline Home Research records
Source: builder price lists and project pages, sales centre visits, municipal building permits, Harbourline Home Research records
2Deposit changes in September
We logged deposit cuts at 11 projects in September, the most in any month since the ledger began. The five largest are listed below, and the remaining six are in the subscriber file. Only one of the eleven also cut its list prices.
| Project | Region | Before | After | Also changed |
|---|---|---|---|---|
| Midtown tower, 412 suites | Toronto | 20% | 10% | Assignment fee waived |
| Waterfront tower, 538 suites | Toronto | 15% | 10% | None |
| Vaughan mid rise, 220 suites | York | 20% | 12% | CA$20,000 closing credit |
| Mississauga tower, 610 suites | Peel | 15% | 10% | List prices cut 4% |
| Oakville mid rise, 164 suites | Halton | 20% | 15% | Parking included |
Source: builder price lists and sales centre visits, 1 to 30 September 2026
3What incentives are worth
Where it is offered, included parking is the largest single incentive, worth a median CA$70,000 at list. Closing credits are smaller but now appear at 30 of the 64 active projects.2
Source: builder price lists and project pages, sales centre visits, municipal building permits, Harbourline Home Research records
4Against the New Releases Report
5What to watch next week
The autumn launch calendar, where four projects have opened registration for October, the Bank of Canada's late October rate decision, and whether the two Toronto towers that cut deposits to 10 per cent extend the offer past Thanksgiving.
How this ledger is built
- Deposits are the total due before occupancy under the current schedule for a typical one bedroom suite, as a share of list price
- Incentives count only when shown on a dated price list, project page or written offer collected at a sales centre visit
- Each project's schedule and price list is kept with its capture date, so every change can be read back
Approved for subscribersPriya NandakumarDirector of Research · 8 October 2026
1 Active projects are those with suites for sale at a sales centre or online during the week. Projects still in registration are excluded.
2 Values are medians across projects offering each incentive, at list, before tax.