Toronto MLS Rentals Up

In the first four months of 2008, leased condominium activity transacted through the TorontoMLS system increased nine per cent to 3,075 townhouse/apartment units. Rents trended upward during this period, increasing in all categories except three bedroom apartment units. Benchmark two-bedroom apartments rose four per cent to $1,852 per month, and one bedroom apartments rose the same amount to $1,445 per month.

The Toronto Real Estate Board’s Central area saw the most leased transactions in the first four months of 2008 with 1,794. About half of these (870) took place in C01.

The overall Central figure was up six per cent compared to the same timeframe in 2007, which saw 1,690 transactions, with the entire increase being real and not the result of rental units becoming available in new buildings.

The West area proved to be TREB’s second most active with 694 units leased during the first four months of 2008. Once again, the largest portion of condo-townhouse units were rented in the West area of the GTA. W20 (Meadowvale/ Streetsville) saw 42 transactions, the most recorded in any individual MLS District.

See the full Toronto real estate rental report »