rental
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TRREB: Strong Population Growth Driving Rental Demand in Q3 2023
Demand for and supply of rental condominium apartments continued to grow in the Greater Toronto Area (GTA) during the third quarter of 2023, as reported by REALTORS® through TRREB’s MLS® System.
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TRREB: Competition Continues between Renters as Rental Listings and Rents Rise
Average condominium apartment rents continued to well outpace the rate of inflation in the second quarter of 2023. Despite seeing an increase in the number of units listed for rent, competition between renters remained very strong. This competition underpinned higher average rents.
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TRREB Statement on Ombudsman Report into the Landlord Tenant Board
Ontario is facing a housing affordability crisis and we need all government agencies focused on boosting housing supply and helping people find safe and affordable places to call home. Today’s Ombudsman’s report investigating the Landlord Tenant Board (“LTB”) confirms that the LTB needs major reform, additional resources, and improved processes to ensure it is meeting…
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TRREB: Strong Condo Rent Growth Continued in Q1 2023
Strong population growth coupled with high borrowing costs continued to exert pressure on the Greater Toronto Area (GTA) condominium apartment rental market in the first quarter of 2023. While the market did benefit from an increase in listings, competition between renters remained intense, with average rents growing by double-digit or high single-digit annual rates.
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Population Growth and High Interest Rates Drive Rental Demand in GTA
Average condominium apartment rents continued to increase by double-digit annual rates in the fourth quarter of 2022. However, while market conditions remained tight enough to support very strong rent growth, there was more balance in the rental marketplace compared to the same period a year earlier in 2021.
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Strong Rental Demand and Lack of Supply Driving up Rents
Double-digit year-over-year rent increases continued to be the norm in Q3 2022. With many would-be first-time buyers temporarily on the sidelines in the Greater Toronto Area (GTA) due to higher borrowing costs, rental demand has remained strong in the face of falling supply. Competition for condo rentals has intensified as a result, and negotiated rents…
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Average Rent Reaches New High as Competition Heats up in the GTA
Condominium apartment rental market conditions have tightened dramatically over the past year. Average rents for one-bedroom and two-bedroom apartments are now both at record levels, surpassing the previous peak in Q3 2019.
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The Cost to Rent Rises While Rental Listings Fall in GTA
Tight rental market conditions continued in the first quarter of 2022, pushing average rents closer to the pre-pandemic peak. Rental transactions were down year-overyear in the first quarter, largely due to the fact that rental listings dropped by an even greater annual rate. The result was increased competition between renters and double-digit rent increases.
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Rental Market Tightens In Q4 2021
Condominium apartment rental transactions dipped in Q4 2021 compared to the same period in the previous year. This drop was due to an even greater yearover-year decline in the number of units available to rent. Following tightening rental market conditions, year-over-year growth in average rents accelerated into the double digits, as rents moved closer to…