For the first time in decades, buying property in and around Toronto may not be as lucrative as before. Real estate sales figures show that rental rates in Toronto and across Ontario are falling compared to the rest of Canada, where prices are generally increasing. Toronto, while still ranked the third most expensive major city for renters in Canada, is seeing a 7.1% decrease in average apartment rent compared to last year.
For what may be the first time in decades, buying property in and around Toronto is not guaranteed to be lucrative, with real estate sales, shows just how much rates in perennially competitive Toronto and elsewhere in Ontario are falling compared to the rest of the country, where prices are mostly on the up-and-up.
The 20 priciest major hubs to rent a purpose-built apartment or condo in Canada, and how prices have changed. Chart from Urbanation and Rentals.ca.
RENTAL REALESTATE TORONTO ONTARIO HOUSING MARKET
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