New year, new market… er, sorta.

While the rest of the world made its list of New Year’s resolutions, developers made a resolution of their own:

Figure out what’s up with balconies.

New data from Bullpen Research and Consulting shows that the average size of a balcony in a new condo project in the Greater Toronto Area (GTA) is approximately 72 square feet – 16 per cent of the average unit size. That’s a significant amount of space for a home feature that (it’s okay to admit…) often ends up turning into outdoor storage.