TREB Member Inquiries: Rental Market Report () Media/Public Inquiries: Third Quarter () Economic Indicators Competition Between Renters Remains Strong in Q Real GDP Quarterly Q.% Toronto Employment Growth % Change Prev Month The average rent for onebedroom condominium apartments in the TREB market area was up by. per cent on an annual basis to $, in Q. The average twobedroom condominium apartment rent was up by. per cent over the same period to $,..% Competition between renters remained very strong for available units in Q. It is clear that supply is part of the issue. Different levels of government have committed to looking at housing supply through the policy lens. TREB has participated in these policy discussions and looks forward to continuing the dialogue. To this end, TREB does have concerns that increased rent controls and a possible vacancy tax in the City of Toronto could serve to reduce the supply of available rental units as potential investors look to lessregulated sectors in which to invest, said Mr. Syrianos. Inflation Rate (Yr./Yr. CPI Growth) August.% Bank of Canada Overnight Rate.% Prime Rate.% Fixed Year Mortgage Rate Total TREB MLS Apartment Rentals, % Change.% Toronto Unemployment Rate TORONTO, ONTARIO, October, President Tim Syrianos announced that yearoveryear increases in average rents for condominium apartments were up very strongly in the third quarter, based on rental transactions reported by Greater Toronto REALTORS through TREB s MLS System..% The number of condominium apartments listed during the third quarter and the number of rental agreements signed were down by similar amounts on a yearoveryear basis. It is reasonable to assume that the vacancy rate for condominium apartments has trended lower this year. If the current relationship between rental demand and supply remains in place moving forward, rent increases for available units will continue to trend wellabove the rate of inflation. Economic and demographic trends suggest that rental demand will increase and there are real concerns that the already constrained supply of units for rent could get worse, said Jason Mercer, TREB s Director of Market Analysis. Sources: Statistics Canada; Bank of Canada,, Q Q TREB MLS Avg. Bdrm. Apt. Rent, Rental Market Summary: Third Quarter Apartments,, All Bedroom Types Quarter Q Q Yr./Yr. % Chg. Listed,,.%,,.% (.%).% $, $,.%.% OneBedroom,, (.%).% $, $,.%.% TwoBedroom,,.%.% ThreeBedroom $, $, $, $,.%.%.%.%.%.% $, $, Townhouses,, All Bedroom Types Quarter Q Q Yr./Yr. % Chg. Listed,.%.%.%.% $, $,.% () OneBedroom.%.% $, $,.% TwoBedroom.%.% ThreeBedroom $, $,.%.%.% $, $,.% Q Q
APARTMENTS, THIRD QUARTER ALL TREB AREAS Halton Region Burlington Halton Hills Milton Oakville Peel Region Brampton Caledon Mississauga City of Toronto York Region Aurora E. Gwillimbury Georgina King Markham Newmarket Richmond Hill Vaughan WhitchurchStouffville Durham Region Ajax Brock Clarington Oshawa Pickering Scugog Uxbridge Whitby Dufferin County Orangeville Simcoe County AdjalaTosorontio Bradford West Gwillimbury Essa Innisfil New Tecumseth OneBedroom TwoBedroom ThreeBedroom Total Listed Total Avg. Lease Rate Avg. Lease Rate Avg. Lease Rate Avg. Lease Rate,, $,, $,, $, $,,,,,,, $, $, $, $, $, $, $,,, $, $, $, $, $, $, $, $, $, $, $,,, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, Rental Market Report, Third Quarter
APARTMENTS, THIRD QUARTER CITY OF TORONTO MUNICIPAL BREAKDOWN Total Listed City of Toronto Total Toronto W Toronto W Toronto W Toronto W Toronto W Toronto W Toronto W Toronto W Toronto W Toronto W Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto E Toronto E Toronto E Toronto E Toronto E Toronto E Toronto E Toronto E Toronto E Toronto E Toronto E Total OneBedroom TwoBedroom ThreeBedroom Avg. Lease Rate Avg. Lease Rate Avg. Lease Rate Avg. Lease Rate,,,, $, $, $, $,,, $, $, $, $,,, $, $, $, $, $, $, $, $,,,,,, $, $, $, $, $, $, $, $, $, $, $, $, $, $,,, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $,, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, Rental Market Report, Third Quarter
TOWNHOUSES, THIRD QUARTER ALL TREB AREAS Total Listed Halton Region Burlington Halton Hills Milton Oakville Peel Region Brampton Caledon Mississauga City of Toronto York Region Aurora E. Gwillimbury Georgina King Markham Newmarket Richmond Hill Vaughan WhitchurchStouffville Durham Region Ajax Brock Clarington Oshawa Pickering Scugog Uxbridge Whitby Dufferin County Orangeville Simcoe County AdjalaTosorontio Bradford West Gwillimbury Essa Innisfil New Tecumseth Total OneBedroom TwoBedroom ThreeBedroom Avg. Lease Rate Avg. Lease Rate Avg. Lease Rate Avg. Lease Rate,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Rental Market Report, Third Quarter
TOWNHOUSES, THIRD QUARTER CITY OF TORONTO MUNICIPAL BREAKDOWN Total Listed Total OneBedroom TwoBedroom ThreeBedroom Avg. Lease Rate Avg. Lease Rate Avg. Lease Rate Avg. Lease Rate, $, $, $, $, $, $, $, $, $, $, $, $, $, $, Toronto W Toronto W Toronto W Toronto W Toronto W Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto C Toronto E Toronto E Toronto E Toronto E Toronto E Toronto E Toronto E Toronto E Toronto E Toronto E Toronto E $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $ $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, City of Toronto Total Toronto W Toronto W Toronto W Toronto W Toronto W Rental Market Report, Third Quarter
Share of GTA Apartments In Rental.%.%.%.% Halton.% Peel Toronto York Durham Source: CMHC, Rental Market Report GTA Condo Apartment Vacancy Rate.%.%.%.%.% Halton Peel Toronto York Durham NOTES Refers to the total number of rental units that were available during the reporting period. Refers to firm lease transactions entered in the TorontoMLS system between the first and last day of the reporting period. Refers to the average lease rate for firm lease transactions entered in the TREB MLS system between the first and last day of the reporting period. Statistics Canada, Quarteroverquarter annualized growth rate. Statistics Canada, Yearoveryear growth rate. Bank of Canada, rates for most recently completed month. Source: CMHC, Rental Market Report Copyright Rental Market Report, Third Quarter