Toronto Rental Market Seeing “Signs Of A Cool-Off”

Rent growth in Toronto slowed in September, “which may signal a broader impending moderation for rent inflation in the months ahead.”Canadian rents continued to trend upwards last month — no doubt a reflection of short supply and roaring demand in markets across the country.from Rentals.ca and Urbanation shows that the average asking rent clocked in at $2,149 in September, marking yet another record high. That figure is up 1.5% month over month and 11.1% year over year.

Shaun Hildebrand, Urbanation President, points out that “exceptionally strong” rent growth on a national level did not necessarily trickle down to individual markets. In fact, he says that “most major markets experienced a slower annual rate of rent growth compared to recent months.”For starters, although Toronto remains one of the country’s most expensive rental markets, according to a ranking of 35 Canadian cities, it dropped down to the number three spot last month.

Though average rent for shared accommodations in Toronto came at a premium compared to most other major markets — roommate rents in Toronto were second only to Vancouver — it’s worth noting that it saw little change from the $1,302 observedGiacomo Ladas, Communications Manager with Rentals.ca, says there are definitely “some signs of a cool-off” in Toronto’s market. However, he notes that “seasonality” is partially to blame.

“As far as roommate listings, we are seeing nominal change however the amount of roommate listings becoming available has increased significantly. Especially when it comes to rooms being rented out in single-family homes.”Canada's Year-End Home Price Forecast Downgraded Amid Sluggish Third Quarter

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Most actively traded companies on the Toronto Stock ExchangeTORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (19,663.84, up 162.64): Toronto-Dominion...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Experts revise Toronto housing forecast due to tanking market but say prices are still going upToronto's real estate market may be in a months-long slump thanks to prohibitive interest rates, but despite a serious plunge in the number of sale...
La source: blogTO - 🏆 44. / 63 Lire la suite »

People are now co-purchasing homes to afford Toronto's overblown housing marketNow that sharing bedrooms (and perhaps even beds) in Toronto's overpriced rental market is no longer out of the ordinary, it's no wonder that progr...
La source: blogTO - 🏆 44. / 63 Lire la suite »

Stock market today: Asian markets slip as rising yields in the bond market pressure stocksHONG KONG (AP) — Asian markets slipped on Friday following a decline on Wall Street driven by mounting pressure from rising bond market yields. U.S. futures ...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Most actively traded companies on the Toronto Stock ExchangeTORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (19,500.24, down 163.60 points): Canadian...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »