Tuesday, 17 January 2017
Toronto’s hot housing market spills over to condo rentals.
Toronto’s hot housing market spills over to condo rentals.Average rents for condos rose 11.7 per cent in the fourth quarter of 2016, compared to the same period a year earlier, hitting nearly $1,990 a month for a typical 719-square-foot condo, according to new data from Urbanation Inc., a consulting and market research firm that focuses on the Greater Toronto Area’s condo market.
Rents rose the most in the Toronto city core, where condos rented for an average of $2,134 a month in the last three months of 2016, up 12 per cent from a year earlier. Average condo rents rose 7 per cent to $1,857 in the inner suburbs of Etobicoke, North York and Scarborough. They rose 6 per cent to $1,739 in the 905 region around the city.