Heres a great report for Toronto landlords looking to get some back ground info about the current rental market in Toronto. Contact me for the full report.
Rental transactions through TorontoMLS rose 6 per cent in 2007 to 9,286 condominium apartment/townhomes rented. After three years of publishing rental data, it is clear that activity in the secondary lease market roughly tracks MLS sales activity, with units leased peaking mid-year. In 2007, 3,837 units were leased between May and August 2007, with transactions moderating in the latest reporting period.
During the latest reporting period (Sept 1 to December 31st 2007), TREB members reported 2,635 rented condominiums (apartments and townhouses) in the Greater Toronto Area. This is down slightly from the 2,686 recorded during the same timeframe last year. The last third of 2007 revealed some interesting price trends. In all categories of condominium apartment, rents rose over last year, with two-bedroom units up six per cent to $1,858 per month. Also, townhouse rents increased in every category but one bedroom units. Two-bedrooms rose eight per cent to $1,790 per month.
• In the most active area of the GTA for rental condominium apartments, there were 1,431 units leased during the September to December period. Of these, 823 were one -bedroom units which averaged $1,517 per month, and 529 were two-bedroom units which went for an average of $2,136 per month. • The same time-period saw 63 town-house rentals in the Central area, with two-bedroom units predominating. These rented for an average of $2,111 per month.
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