register free | resend password


GTA REALTORS® Release Q3 Rental Market Report

ID: 1465520
recent pressrelease next pressrelease

(businesspress24) - TORONTO, ONTARIO -- (Marketwired) -- 10/24/16 -- Toronto Real Estate Board President Larry Cerqua announced that the number of lease agreements signed for condominium apartments listed on TREB''s MLS® System was down by 4.8 per cent on a year-over-year basis to 9,164 in the third quarter of 2016 compared to 9,629 a year earlier. Over the same period, the number of condominium apartments listed for rent was down by a greater annual rate of 17.3 per cent.

"Demand remains very strong for condominium apartments in the Greater Toronto Area. The key issue in the third quarter was the fact that there was a pronounced decline in the number of units available for rent. The dip in the supply of available rental units can be attributed, at least in part, to fewer condominium project completions during the first three quarters of 2016 compared to last year. This suggests that there were fewer newly completed investor-held units available for rent," said Mr. Cerqua.

Average one-bedroom and two-bedroom condominium apartment rents were up substantially in the third quarter compared to 2015. The average one-bedroom rent was up by 7.2 per cent to $1,777. The average two-bedroom rent was up by 7.9 per cent to $2,419.

"Conditions in the condominium apartment rental market tightened substantially in the third quarter, with listings down on a much greater basis relative to rental transactions. This means that competition between renters was enhanced, which fed through into average rent increases well-above the rate of inflation," said Jason Mercer, the TREB''s Director of Market Analysis.

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 46,000 residential and commercial TREB Members serve consumers in the Greater Toronto Area. TREB is Canada''s largest real estate board.

Contacts:


Toronto Real Estate Board
Media Inquiries:
Mary Gallagher
Senior Manager Public Affairs
(416) 443-8158



More information:
http://www.statisticaldataanalysis.net http://www.realwire.com/releases/VBS3-v392-Supports-New-Prototype-Oculus-Rift-CV1-and-HTC-Vive-Integrations http:// http://traditionalenglishfoods.com/ http://www.realwire.com/releases/Bohemia-Interactive-Simulation



Keywords (optional):

toronto-real-estate-board,



Company information / Profile:

PressRelease by

Requests:



PressContact / Agency:



published by: Marketwired
print pressrelease  send to a friend  

Date: 10/24/2016 - 15:13
Language: English
News-ID 1465520
Character count: 1988
Kontakt-Informationen:
Firma: Toronto Real Estate Board
Ansprechpartner: Feedback to businesspress24.com about Pressrelease-id:
Stadt: TORONTO, ONTARIO
Telefon:

Meldungsart:
Versandart:
Freigabedatum:
Comments:



Number of hits: 189

Linking-Tips:



Direct Link to this PressRelease:






We would appreciate a link in your News-, Press- or Partner-Site.

Comments on this PressRelease






All members: 9 437
Register today: 0
Register yesterday: 0
Members online: 0
Guests online: 82


Don't have an account yet? You can create one. As registered user you have some advantages like theme manager, comments configuration and post comments with your name.