New data from Rentalsdotca and Urbanation reveals that rents for Toronto apartments saw a significant spike last month. realestate realestatenews Toronto rental rent
— puts the average rent for all property types in Canada at $1,996. Although that figure has dipped nominally since December, it was 9.5% above the pre-pandemic level and 10.7% over the year prior. January was the ninth-straight month in which annual rent growth exceeded 10%.
Purpose-built and condominium apartment rents climbed 10.3% over the past year, followed by one-bedrooms , two-bedrooms , studios , and three-bedrooms ., the report also highlights the mounting affordability challenges in the Greater Toronto Area . Apartment rents in Toronto were up 20.8% from the year prior, and in addition, some of the country’s priciest medium-sized markets were in the GTA, including Vaughan, Oakville, Etobicoke, Mississauga, Brampton, and Burlington.
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