07:18 AM EDT, 08/16/2024 (MT Newswires) -- Toronto's apartments will be one segment to watch, stated Bank of Montreal (BMO).

As surging population inflows look to calm in the coming years, the pressure on housing in Canada's most populous city may ease, said the bank.

Meantime, the construction of apartment (which includes condo) units is being completed at a record-high pace, after years of labor and materials shortages, pointed out BMO.

All of that is already having some effect, with the benchmark price of existing apartments stabilizing following a runup during the COVID-19 pandemic. The additional completions should continue to keep a damper on prices over the medium term, assuming population growth does indeed cool, according to the bank.