Condo Market Conditions Tightened Further in Q1

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1 TREB Member Inquiries: Condo Market Report () - Media/Public Inquiries: First Quarter () - Economic Indicators Real GDP Growth Q.6% Toronto Employment Growth.% Toronto Unemployment Rate.% Inflation (Yr./Yr. CPI Growth).6% Bank of Canada Overnight Rate Prime Rate Mortgage Rates Total TREB MLS Condo Apartment Rentals,6 Condo Market Conditions Tightened Further in Q TORONTO, ONTARIO, April, President Larry Cerqua announced that Greater Toronto Area REALTORS reported a double-digit annual increase in condominium apartment sales in the first quarter of. A total of, condominium apartments changed hands through TREB s MLS System during the first three months of up. per cent compared to the same period in. Over the same period of time, the number of new condominium apartment listings entered into the MLS System was down by. per cent to,6 compared to, new listings a year earlier., Condominium apartments have historically been the housing type of choice for many first-time buyers due to the relatively lower price point compared to groundoriented housing options. Given that more than half of intending home buyers are expected to be first-time buyers in, according to a recent Ipsos poll conducted for TREB, it makes sense that demand for this housing type has remained strong, said Mr. Cerqua. First Quarter, First Quarter TREB MLS Average Condo Apartment Price,6.% The average selling price for condominium apartments in the first quarter of was $, up. per cent compared to an average of $, for the first.% quarter of. The average price was highest in the City of Toronto, at $,, representing a year-over-year increase of. per cent..% Year Year.% Year Year.6% Sources and Notes: Market conditions became much tighter in the condominium apartment segment over the past year, with sales accounting for a greater share of listings. As competition between buyers increased further, the pace of price growth accelerated, said Jason Mercer, TREB s Director of Market Analysis. Condominium Apartment Market Summary,6 First Quarter i - Statistics Canada, Quarter-over-quarter growth, annualized Total TREB $, $, Year Year First Quarter Sales Average Price Sales Average Price, $,, $, ii - Statistics Canada, Year-over-year growth for the most recently reported month Halton Region 6 $,6 $, Peel Region $,6 $, iii - Bank of Canada, Rate from most recent Bank of Canada announcement City of Toronto, $,, $, York Region $66,6 6 $, iv - Bank of Canada, rates for most recently completed month Durham Region $,6 $,6 Other Areas $, $6, First Quarter Year-Over-Year Summary,6 Sales New Listings Active Listings Average Price Average DOM i,,6, $,,,, $, Active listings refer to last month of quarter. % Chg..% -.% -6.%.% -.%

2 ALL TREB AREAS FIRST QUARTER SUMMARY OF CONDOMINIUM APARTMENT TRANSACTIONS Sales TREB Total Halton Region Burlington Halton Hills Milton Oakville Peel Region Brampton Caledon Mississauga City of Toronto Toronto West Toronto Central Toronto East York Region Aurora E. Gwillimbury Georgina King Markham Newmarket Richmond Hill Vaughan Whitchurch-Stouffville Durham Region Ajax Brock Clarington Oshawa Pickering Scugog Uxbridge Whitby Dufferin County Orangeville Simcoe County Adjala-Tosorontio Bradford West Gwillimbury Essa Innisfil New Tecumseth Dollar Volume Average Price Median Price New Listings Active Listings Avg. SP / LP Avg. DOM, 6,,, 66 6 $,,, $,,6 $,, $,, $,,6 $,,6 $6,, $6,6, $,, $,, $,6,, $,6, $,,,6 $,, $,, $,, $, $,6, $,, $,, $,, $,, $,, $,, $,, $,, $6,, $,6, $,,6 $,, $,6,66 $,6, $,6, $,, $,, $, $,6 $, $6, $, $,6 $,6 $,6 $, $, $, $, $,6 $6,66 $66,6 $6, $, $66, $,6 $, $, $, $, $, $,6 $, $,6 $, $,6 $, $, $, $, $,6 $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $66, $, $, $6, $, $, $, $, $, $, $, $, $6, $, $, $, $, $, $6, $6,,6, 6,,6, 6 6, 6, 6 6 % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % 6 $,, $, $66, % Condo Market Report, First Quarter

3 CITY OF TORONTO FIRST QUARTER SUMMARY OF CONDOMINIUM APARTMENT TRANSACTIONS Sales TREB Total City of Toronto Total Toronto West Toronto W Toronto W Toronto W Toronto W Toronto W Dollar Volume Average Price Median Price New Listings Active Listings Avg. SP / LP Avg. DOM,,, $,,, $,6,, $,6, $6,6, $, $, $, $, $, $, $, $6,,6 6,,6,, % % % % Toronto W6 Toronto W Toronto W Toronto W Toronto W Toronto Central Toronto C Toronto C Toronto C Toronto C Toronto C6 Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto East Toronto E Toronto E Toronto E Toronto E Toronto E Toronto E6 Toronto E Toronto E Toronto E 6 6 6,, $,, $,6, $,,6 $,, $,, $,, $,, $,, $6,, $,,,6 $,, $,, $,, $,, $,, $6,, $,, $,, $,6, $,, $,, $,6, $,6, $6,, $,, $,,6 $,, $,, $,, $,,66 $,, $,,6 $,,6 $,,6 $, $, $6,6 $6, $, $, $, $, $, $,6 $, $,, $66,6 $6, $, $6, $,66 $, $, $, $,, $, $, $, $6,66 $6, $6, $6, $, $, $6, $,6 $6, $6, $, $, $, $, $, $, $, $, $6, $, $, $, $6, $, $, $, $, $6, $, $, $6, $, $, $, $, $, $, $66, $, $, $, $, $, $, 6,, % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % % Toronto E Toronto E 6 $,6, $,6, $6, $, $, $, 6 % % Condo Market Report, First Quarter

4 Condominium Apartment Market Summary Share of Total Condo Apartment Sales By TREB Area Condo Apartment Sales by Price Range (All Areas) % % % -, City of Toronto Peel Region York Region Durham Region Halton Region % Selling Price Range K-, K-, K-, K-, 6K-6, K-, K-, K-,,,+ %,,,, Number of Sales Share of Total Condo Apartment Sales By Bedroom Type (All Areas) Condo Apartment Price by Bedroom (All Areas) 6% % % % + Den % $, $6, $6, $, $, $, $, $, $, $, $, $, $, $, $ + Den + Den % Average Selling Price Three Bedroom Total Median Selling Price Condo Market Report, First Quarter

5 Sub-Market Breakdown: Downtown Core Condo Apartment Sales by Price Range (Downtown Core) -, K-, Selling Price Range K-, K-, K-, 6K-6, K-, K-, K-,,,+ Condo Apartment Price by Bedroom Type (Downtown Core) $,6, $,, $,, $,, $,, $,, $,, $, $, $, $6, $, $, $, $, $, $ 6 Number of Sales Condo Apartment Sales By Bedroom Type (Downtown Core) Den + Den Average Selling Price Median Selling Price Total 6 Condo Market Report, First Quarter

6 Sub-Market Breakdown: North York City Centre Condo Apartment Sales by Price Range (North York City Centre) -, K-, Selling Price Range K-, K-, K-, 6K-6, K-, K-, K-,,,+ Number of Sales Condo Apartment Price by Bedroom Type (North York City Centre) $, $6, $6, $, $, $, $, $, $, $, $, $, $, $, $ Condo Apartment Sales By Bedroom Type (North York City Centre) + Den + Den Average Selling Price Median Selling Price Total Condo Market Report, First Quarter 6

7 Sub-Market Breakdown: Mississauga City Centre Condo Apartment Sales by Price Range (Mississauga City Centre) -, K-, Selling Price Range K-, K-, K-, 6K-6, K-, K-, K-,,,+ Number of Sales Condo Apartment Price By Bedroom Type (Mississauga City Centre) $6, $, $, $, $, $, $, $, $, $, $, $, $ Condo Apartment Sales By Bedroom Type (Mississauga City Centre) + Den + Den Average Selling Price Total 6 Median Selling Price Condo Market Report, First Quarter

8 Rental Market Summary Number of Units Listed Condominium Apartment Rental Market Remained Tight in Q ' Q vs. Q Greater Toronto Area REALTORS reported 6,6 condominium apartment lease transactions through TREB s MLS System during the first quarter of. This result was up by. per cent compared to the first quarter of. 6,,,, The number of condominium apartments listed for rent at some point during the first quarter was up on a year-over-year basis, but by less than one per cent.,,,, The average one-bedroom condominium apartment rent for the TREB market area as a whole was up by. per cent to $,. The average two-bedroom rent was up by 6. per cent to $,.,,, Downtown Core North York City Centre Mississauga City Centre Number of Units Rented Average One-Bedroom Rents Q vs. Q Q vs. Q $,,, $,6,, $, $ $, Downtown Core North York City Centre Mississauga City Centre $ Total TREB Downtown Core North York City Centre Mississauga City Centre Condo Market Report, First Quarter

9 Share of GTA Condo Apartments In Rental.%.6% 6.%.% Halton.% Peel Toronto York Durham Source: CMHC, Rental Market Report GTA Condo Apartment Vacancy Rate.%.%.%.6% NOTES.% Halton Peel Toronto York Durham - Sales, dollar volume, average sale prices and median sale prices are based on firm transactions entered into the TREB MLS system between the first and last day of the quarter being reported. - New listings entered into the TREB MLS system between the first and last day of the quarter being reported. - Active listings as of the end of the last day of the quarter being reported. - Ratio of the average selling price to the average listing price for firm transactions entered into the TREB MLS system between the first and last day of the quarter being reported. - Average number of days on the market for firm transactions entered into the TREB MLS system between the first and last day of the quarter being reported. 6 - Past monthly and year-to-date figures are revised monthly. Source: CMHC, Rental Market Report Copyright Condo Market Report, First Quarter