Rental Market Report First Quarter Economic Indicators Real GDP Quarterly Q.% Toronto Employment Growth Rental Market Summary: First Quarter Apartments Quarter Q Quarter Q All Bedroom Types Listed All Bedroom Types Listed Leased,, Q,, $,, $,, $, $, Yr./Yr. % Chg..%.%.%.%.%.% (.%).%.%.% (.%).%.%.%.%.%.%.% Townhouses % Change Prev Month % Change March.% Toronto Unemployment Rate March.% Inflation Rate (Yr./Yr. CPI Growth) February.% Bank of Canada Overnight Rate March.% Prime Rate March.% Fixed Year Mortgage Rate March.% Sources: Statistics Canada; Bank of Canada,,,, Leased, AboveInflation Rent Increases Continue in Q TORONTO, ONTARIO, April, President Tim Syrianos announced that average rents for onebedroom and twobedroom condominium apartment rental units were up well above the rate of inflation on a yearoveryear basis in the first quarter of. The average rent for onebedroom condominium apartments in the TREB market area was up. per cent on an annual basis to $,. The average twobedroom condominium apartment rent was up by. per cent over the same time period to $,. The GTA continues to be one of the most desirable locations to live in the world and will remain so over the long term. As people have moved to the region to take advantage of quality employment opportunities, rental demand has remained strong. The result has been heightened competition between renters, in an ultralow vacancy environment, and doubledigit rent growth in some market segments, said Mr. Syrianos. The number of condominium apartments listed during the first quarter was down. per cent compared to Q. The total number of units leased was down. per cent. With a vacancy rate hovering at one percent for condominium apartments, there has been less supply available to wouldbe renters, which has resulted in fewer lease agreements being signed. The lowvacancy, high rent growth situation that has unfolded in the GTA over the past year will be further exacerbated by the rent control provisions contained in the Fair Housing Plan. Some investors who, previously would have considered investing in rental units may now look elsewhere for returns on their money. This does not bode well for a sustained increase in rental supply over the long term, said Jason Mercer, TREB s Director of Market Analysis. OneBedroom TwoBedroom ThreeBedroom Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent $,, $,, $, $, OneBedroom TwoBedroom ThreeBedroom Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent $, $, $, $, Q $, $, $, $, Yr./Yr. % Chg..%.%.%.%.% ().%.%.%.%.%.%.%.%.% TREB Member Inquiries: () Media/Public Inquiries: () Total TREB MLS Apartment Rentals, Q, Q TREB MLS Avg. Bdrm. Apt. Rent $, Q $, Q,,
APARTMENTS, FIRST 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 Leased Leased Avg. Lease Rate Leased Avg. Lease Rate Leased Avg. Lease Rate Leased Avg. Lease Rate,, $,, $,, $, $,,,,, $, $, $, $, $, $, $,,, $, $, $, $, $, $, $, $, $, $,,, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, Rental Market Report, First Quarter
APARTMENTS, FIRST 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 Leased OneBedroom TwoBedroom ThreeBedroom Leased Avg. Lease Rate Leased Avg. Lease Rate Leased Avg. Lease Rate Leased Avg. Lease Rate,,,, $, $, $, $,,, $, $, $, $,,, $, $, $, $, $, $, $,,,,,, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $,,, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $,, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, $, Rental Market Report, First Quarter
TOWNHOUSES, FIRST 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 Leased OneBedroom TwoBedroom ThreeBedroom Leased Avg. Lease Rate Leased Avg. Lease Rate Leased Avg. Lease Rate Leased Avg. Lease Rate,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Rental Market Report, First Quarter
TOWNHOUSES, FIRST QUARTER CITY OF TORONTO MUNICIPAL BREAKDOWN Total Listed Total Leased OneBedroom TwoBedroom ThreeBedroom Leased Avg. Lease Rate Leased Avg. Lease Rate Leased Avg. Lease Rate Leased 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, First Quarter
Share of GTA Apartments In Rental.%.%.%.%.% Halton Peel Toronto York Durham Source: CMHC, Rental Market Report GTA Condo Apartment Vacancy Rate.%.%.% NOTES.%.% Halton Peel Toronto York Durham 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, First Quarter