Prices have been flat for 2014. Usually August gives us a nice little spike as all of the students gobble up suites as they return to the city. What will you do when your child goes to University, pay $80,000 in rent over four years or have an investment working for you? The odds are far ahead that you'll be better off buying a condo for your child to live in. Even better would be a 2 bedroom with a roommate contributing $1000 in rent. 

The supply of new condos becoming available is meeting the demand resulting in steady prices. A large proportion of brand new condos become rental units as investors hold on to their suites and become landlords. The rental demand is enormous and landlords continue to get top dollar for their suites. A nice 750 sq ft one bedroom plus den with parking on Queen St West will rent for about $1750. Closer to downtown, on the subway line, will be closer to $1900 for the same unit. Even at these prices, landlords are only breaking even with 25 percent down. 

I think we'll continue to see condo prices flat to slow growth for the rest of 2014. Detached Homes are continuing to climb at unsustainable rates over 8 percent per year, this makes the gap to jump from a condo to a home all that more difficult. Townhomes are all the more desirable as they are a good stepping stone and continue to appreciate well.