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Rental Transactions Up Six Percent for the GTA, Toronto

Rental transactions reported on the Toronto MLS system rose 6 per cent in 2007 to 9,286 for condominium apartments/townhomes rented.

The last quarter of 2007 revealed some interesting price trends.   In all categories of condo apartments, rents rose over last year, with two bedroom units up 6% to $1,858 per month.  Townhome rents increased in every category but one bedroom units.   Two bedrooms rose 8 percent to $1,790. per month.

The Central District was the most active area in the GTA for rental condo apartments.  One Bedroom units averaged $1,517.00 per month, 2 bedrooms went for an average of $2,136. per month.

The West District averaged $1,615 per month for 2 bedroom condo units, and 3 bedroom townhomes (the most common category of townhomes) rented for $1,570.00

As an investor, I found it easier to attract long term tenants with 1+den and 2 bedroom units.   One bedroom units would rent quick if in the downtown core or in the surrounding area's when they had easy access to transportion.  

Full detailed Rental Market Report on all districts available upon request.





Posted: Wednesday, February 13, 2008 2:17 AM by Sutton Realty


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