rental market report treb member inquiries: media/public ...€¦ · bedroom rent climbed by 8.9...

Quarter

All Bedroom Types

Listed Leased

Q1 2016Q1 2015

887 413942 396

Quarter

All Bedroom Types

Listed Leased

Q1 2016Q1 2015

11,483 6,45813,338 6,063

20161 -13.9% 6.5% (14.91%) 23.42% (16.06%) 9.02% (11.41%) 0.77% 0.99% 15.97%

Rental Market Report TREB Member Inquiries:

(416) 443-8158Media/Public Inquiries:

(416) 443-8152

Total TREB MLS®Apartment Rentals

TREB MLS®Avg. 1-Bdrm. Apt. Rent

First Quarter 2016

Economic Indicators

Rental Market Summary: First Quarter 2016

6,458 6,063

Q12016

Q12015

Apartments

Townhouses

$1,662 $1,585

Q12016

Q12015

Toronto Employment Growth % Change PrevMonth % Change

March 2016 3.4%

Toronto Unemployment RateMarch 2016 7.3%

Inflation Rate (Yr./Yr. CPIGrowth)February 2016 1.4%

Bank of Canada OvernightRateMarch 2016 -- 0.5%

Prime RateMarch 2016 -- 2.7%

Fixed 5-Year Mortgage RateMarch 2016 -- 4.64%

Sources: Statistics Canada; Bank of Canada

Real GDP QuarterlyQ4 2015 0.8%

TORONTO, April 22, 2016 – Toronto Real Estate Board President MarkMcLean announced 6,458 condominium apartment rental transactionsreported through TREB’s MLS® System during the first quarter of 2016.This result represented a year-over-year increase of 6.5 per centcompared to the first quarter of 2015.

“It’s not just the home ownership market that is tight in the Greater TorontoArea. Demand for condominium apartment rentals remained very strongrelative to available listings. As a result, strong competition betweenrenters prompted very strong growth in average rents, particularly for thepopular one-bedroom and two-bedroom apartment categories,” said Mr.McLean.

The average one-bedroom apartment rent was $1,662 in the first quarter –up 4.8 per cent compared to the same period in 2015. The average two-bedroom rent climbed by 8.9 per cent to $2,375 on a year-over-year basis.

“Even with record and near-record completions over the last few years,condominium apartment vacancy rates have remained low. Renterslooking for new apartments in popular neighbourhoods are by and largepointed at investor-held condominium apartments. This is why new rentallistings have been absorbed in short order and average rents have trendedupwards over the past year,” said Jason Mercer, TREB’s Director ofMarket Analysis.

Robust Average Rent Increases in Q1 2016

Bachelor One-Bedroom Two-Bedroom Three-Bedroom

Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent

195 $1,376 3,891 $1,662 2,234 $2,375 138 $2,789158 $1,325 3,569 $1,585 2,217 $2,180 119 $2,777


Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent

1 $1,100 36 $1,492 167 $1,840 209 $2,0932 $1,073 35 $1,634 163 $1,805 196 $2,025

20161 -5.8% 4.3% -28.57% (1) -8.54% 0 -3.94% 0 -6.43% 0

1,3

1,3

1,2,3

1,2,323.4% 3.8% 9.0% 4.8% 0.8% 8.9% 16.0% 0.5%

-50.0% 2.6% 2.9% -8.7% 2.5% 1.9% 6.6% 3.4%Yr./Yr. % Chg.

Yr./Yr. % Chg.

SUMMARY OF RENTAL TRANSACTIONS APARTMENTS, FIRST QUARTER 2016ALL TREB AREAS

All ApartmentsTotal Listed Total Leased

TREB TotalHalton Region

BurlingtonHalton HillsMiltonOakville

Peel RegionBramptonCaledonMississauga

City of TorontoToronto WestToronto CentralToronto East

York RegionAuroraE. GwillimburyGeorginaKingMarkhamNewmarketRichmond HillVaughanWhitchurch-Stouffville

Durham RegionAjaxBrockClaringtonOshawaPickeringScugogUxbridgeWhitby

Dufferin CountyOrangeville

Simcoe CountyAdjala-TosorontioBradford West GwillimburyEssaInnisfilNew Tecumseth

11,483 6,458247 10931 180 0

21 14195 77841 50542 260 0

799 4799,259 5,217955 573

7,801 4,342503 302

1,097 6023 21 10 01 1

477 2724 3

324 162285 1592 2

36 244 10 08 44 3

14 100 01 15 51 11 12 00 00 00 00 02 0

Bachelor One-Bedroom Two-Bedroom Three-BedroomLeased Avg. Lease Rate Leased Avg. Lease Rate Leased Avg. Lease Rate Leased Avg. Lease Rate

195 $1,376 3,891 $1,662 2,234 $2,375 138 $2,7890 - 57 $1,500 49 $2,207 3 $2,6980 - 11 $1,470 7 $1,800 0 -0 - 0 - 0 - 0 -0 - 5 $1,379 7 $1,612 2 $1,6980 - 41 $1,522 35 $2,407 1 $4,7009 $1,314 227 $1,513 256 $1,810 13 $1,9420 - 12 $1,365 12 $1,505 2 $1,5750 - 0 - 0 - 0 -9 $1,314 215 $1,521 244 $1,825 11 $2,009

185 $1,380 3,231 $1,701 1,691 $2,544 110 $2,9637 $1,221 342 $1,559 215 $2,187 9 $2,506

174 $1,394 2,746 $1,732 1,334 $2,686 88 $3,1774 $1,020 143 $1,444 142 $1,750 13 $1,8351 $1,150 370 $1,441 224 $1,834 7 $2,5890 - 1 $1,550 1 $1,600 0 -0 - 0 - 1 $1,475 0 -0 - 0 - 0 - 0 -0 - 1 $1,600 0 - 0 -1 $1,150 174 $1,414 94 $1,806 3 $2,7670 - 0 - 3 $1,650 0 -0 - 103 $1,432 57 $1,829 2 $2,4130 - 91 $1,498 66 $1,891 2 $2,5000 - 0 - 2 $2,000 0 -0 - 5 $1,515 14 $1,629 5 $1,5050 - 1 $1,925 0 - 0 -0 - 0 - 0 - 0 -0 - 2 $1,400 2 $1,300 0 -0 - 0 - 1 $900 2 $1,4750 - 2 $1,425 6 $1,825 2 $1,5750 - 0 - 0 - 0 -0 - 0 - 1 $1,600 0 -0 - 0 - 4 $1,688 1 $1,4250 - 1 $1,100 0 - 0 -0 - 1 $1,100 0 - 0 -0 - 0 - 0 - 0 -0 - 0 - 0 - 0 -0 - 0 - 0 - 0 -0 - 0 - 0 - 0 -0 - 0 - 0 - 0 -0 - 0 - 0 - 0 -

2Rental Market Report, First Quarter 2016

Toronto Real Estate Board

1 2 2 2 2 23 3 3 3

SUMMARY OF RENTAL TRANSACTIONS APARTMENTS, FIRST QUARTER 2016CITY OF TORONTO MUNICIPAL BREAKDOWN

All Apartments

Total Listed Total LeasedTREB TotalCity of Toronto TotalToronto West

Toronto W01Toronto W02Toronto W03Toronto W04Toronto W05Toronto W06Toronto W07Toronto W08Toronto W09Toronto W10

Toronto CentralToronto C01Toronto C02Toronto C03Toronto C04Toronto C06Toronto C07Toronto C08Toronto C09Toronto C10Toronto C11Toronto C12Toronto C13Toronto C14Toronto C15

Toronto EastToronto E01Toronto E02Toronto E03Toronto E04Toronto E05Toronto E06Toronto E07Toronto E08Toronto E09Toronto E10Toronto E11

11,483 6,4589,259 5,217955 57378 5098 723 3

39 1758 34393 2365 2

215 1329 3

57 247,801 4,3424,059 2,351393 155149 7232 1071 47382 216985 49072 37169 6755 2634 15126 70833 491441 295503 30250 3036 1713 666 4164 351 0

92 5313 7142 962 1

24 16


Leased Avg. Lease Rate Leased Avg. Lease Rate Leased Avg. Lease Rate Leased Avg. Lease Rate195 $1,376 3,891 $1,662 2,234 $2,375 138 $2,789185 $1,380 3,231 $1,701 1,691 $2,544 110 $2,9637 $1,221 342 $1,559 215 $2,187 9 $2,5060 - 25 $1,662 24 $2,532 1 $1,7005 $1,280 51 $1,758 16 $2,681 0 -0 - 2 $1,263 1 $1,675 0 -0 - 13 $1,328 3 $1,725 1 $2,3502 $1,075 24 $1,503 7 $1,681 1 $1,4500 - 144 $1,564 89 $2,287 3 $4,0000 - 1 $1,650 1 $2,200 0 -0 - 69 $1,476 63 $1,984 0 -0 - 0 - 2 $1,588 1 $2,0000 - 13 $1,338 9 $1,544 2 $1,525

174 $1,394 2,746 $1,732 1,334 $2,686 88 $3,177121 $1,404 1,548 $1,774 634 $2,973 48 $3,5344 $1,363 82 $1,969 67 $4,094 2 $5,2004 $1,250 52 $1,706 15 $2,397 1 $1,9951 $1,175 3 $1,500 6 $2,717 0 -0 - 26 $1,450 21 $1,832 0 -1 $1,300 111 $1,627 92 $2,083 12 $2,233

30 $1,382 307 $1,793 147 $2,650 6 $3,5160 - 21 $2,001 15 $2,833 1 $2,9501 $1,455 41 $1,815 24 $2,656 1 $3,6250 - 10 $1,385 14 $1,846 2 $1,5750 - 9 $1,872 6 $2,617 0 -1 $1,650 39 $1,475 27 $1,966 3 $2,1676 $1,448 277 $1,591 197 $2,081 11 $2,8575 $1,321 220 $1,546 69 $2,041 1 $1,9504 $1,020 143 $1,444 142 $1,750 13 $1,8350 - 17 $1,779 13 $2,265 0 -0 - 10 $1,685 7 $2,642 0 -0 - 3 $1,567 3 $1,567 0 -0 - 19 $1,336 19 $1,601 3 $1,8500 - 11 $1,419 18 $1,767 6 $1,8330 - 0 - 0 - 0 -0 - 22 $1,363 30 $1,587 1 $1,7000 - 2 $1,263 5 $1,500 0 -4 $1,020 54 $1,387 35 $1,758 3 $1,8670 - 0 - 1 $1,350 0 -0 - 5 $1,255 11 $1,427 0 -



1 2 2 3 2 3 2 3 2 3

SUMMARY OF RENTAL TRANSACTIONS TOWNHOUSES, FIRST QUARTER 2016ALL TREB AREAS

All Apartments

Total Listed Total LeasedTREB TotalHalton Region

BurlingtonHalton HillsMiltonOakville

Peel RegionBramptonCaledonMississauga

City of TorontoToronto WestToronto CentralToronto East

York RegionAuroraE. GwillimburyGeorginaKingMarkhamNewmarketRichmond HillVaughanWhitchurch-Stouffville

Durham RegionAjaxBrockClaringtonOshawaPickeringScugogUxbridgeWhitby

Dufferin CountyOrangeville

Simcoe CountyAdjala-TosorontioBradford West GwillimburyEssaInnisfilNew Tecumseth

887 413108 4814 91 17 3

86 35247 15026 130 0

221 137393 16881 37239 9073 41113 366 00 00 00 0

58 1911 317 920 51 0

23 106 40 03 04 15 30 00 05 23 13 10 00 00 00 00 00 0


Leased Avg. Lease Rate Leased Avg. Lease Rate Leased Avg. Lease Rate Leased Avg. Lease Rate1 1,100 36 1,492 167 1,840 209 2,0930 - 2 1,413 35 1,584 11 1,9970 - 0 - 6 1,558 3 1,8380 - 0 - 0 - 1 1,2500 - 0 - 2 1,575 1 1,8000 - 2 1,413 27 1,590 6 2,2331 1,100 11 1,259 39 1,621 99 1,8960 - 3 1,167 2 1,450 8 1,5470 - 0 - 0 - 0 -1 1,100 8 1,294 37 1,630 91 1,9260 - 22 1,613 77 2,133 69 2,4960 - 5 1,609 23 1,940 9 2,9610 - 13 1,580 39 2,450 38 2,7970 - 4 1,725 15 1,603 22 1,7870 - 1 1,550 12 1,559 23 1,9270 - 0 - 0 - 0 -0 - 0 - 0 - 0 -0 - 0 - 0 - 0 -0 - 0 - 0 - 0 -0 - 1 1,550 7 1,559 11 1,9070 - 0 - 0 - 3 1,8930 - 0 - 3 1,583 6 1,8180 - 0 - 2 1,523 3 2,2500 - 0 - 0 - 0 -0 - 0 - 3 1,392 7 1,6160 - 0 - 3 1,392 1 1,6750 - 0 - 0 - 0 -0 - 0 - 0 - 0 -0 - 0 - 0 - 1 1,5000 - 0 - 0 - 3 1,5950 - 0 - 0 - 0 -0 - 0 - 0 - 0 -0 - 0 - 0 - 2 1,6750 - 0 - 1 1,500 0 -0 - 0 - 1 1,500 0 -0 - 0 - 0 - 0 -0 - 0 - 0 - 0 -0 - 0 - 0 - 0 -0 - 0 - 0 - 0 -0 - 0 - 0 - 0 -0 - 0 - 0 - 0 -



1 2 2 3 2 3 2 3 2 3


Leased Avg. Lease Rate Leased Avg. Lease Rate Leased Avg. Lease Rate Leased Avg. Lease Rate1 $1,100 36 $1,492 167 $1,840 209 $2,0930 - 22 $1,613 77 $2,133 69 $2,4960 - 5 $1,609 23 $1,940 9 $2,9610 - 3 $1,783 2 $2,075 0 -0 - 1 $1,395 9 $2,203 1 $2,2950 - 0 - 0 - 0 -0 - 0 - 1 $1,550 0 -0 - 1 $1,300 3 $1,417 2 $1,7500 - 0 - 6 $1,917 4 $4,1500 - 0 - 0 - 0 -0 - 0 - 0 - 2 $2,1250 - 0 - 2 $1,675 0 -0 - 0 - 0 - 0 -0 - 13 $1,580 39 $2,450 38 $2,7970 - 5 $1,660 18 $2,577 5 $3,3080 - 0 - 3 $3,875 1 $4,5000 - 0 - 0 - 0 -0 - 0 - 0 - 0 -0 - 0 - 0 - 1 $2,2000 - 0 - 3 $1,583 2 $2,5750 - 2 $1,175 3 $2,242 4 $3,2240 - 0 - 0 - 0 -0 - 1 $1,770 2 $1,985 1 $3,0000 - 0 - 0 - 0 -0 - 0 - 1 $2,700 2 $2,7750 - 0 - 0 - 1 $2,1500 - 4 $1,631 6 $2,217 12 $3,1580 - 1 $1,599 3 $2,030 9 $1,8210 - 4 $1,725 15 $1,603 22 $1,7870 - 3 $1,767 4 $1,904 2 $2,6500 - 0 - 2 $1,865 0 -0 - 0 - 0 - 0 -0 - 0 - 1 $1,500 2 $1,5750 - 0 - 1 $1,700 9 $1,7470 - 0 - 0 - 0 -0 - 0 - 0 - 3 $1,6000 - 0 - 0 - 3 $1,7800 - 1 $1,600 2 $1,338 1 $1,4800 - 0 - 3 $1,466 0 -0 - 0 - 2 $1,213 2 $1,763

SUMMARY OF RENTAL TRANSACTIONS TOWNHOUSES, FIRST QUARTER 2016CITY OF TORONTO MUNICIPAL BREAKDOWN

All Apartments

Total Listed Total LeasedTREB TotalCity of Toronto TotalToronto West

Toronto W01Toronto W02Toronto W03Toronto W04Toronto W05Toronto W06Toronto W07Toronto W08Toronto W09Toronto W10

Toronto CentralToronto C01Toronto C02Toronto C03Toronto C04Toronto C06Toronto C07Toronto C08Toronto C09Toronto C10Toronto C11Toronto C12Toronto C13Toronto C14Toronto C15

Toronto EastToronto E01Toronto E02Toronto E03Toronto E04Toronto E05Toronto E06Toronto E07Toronto E08Toronto E09Toronto E10Toronto E11

887 413393 16881 377 5

26 110 02 1

14 618 100 03 2

11 20 0

239 9080 2819 42 00 02 1

13 520 91 08 42 0

21 33 1

42 2226 1373 4115 95 20 05 3

15 100 06 34 36 46 3

11 4



1 2 2 3 2 3 2 3 2 3


Share of GTAApartments In Rental

NOTES1 - Refers to the total number of rental units that were available during the reporting period.2 - Refers to firm lease transactions entered in the TorontoMLS system between the first and last day of the reporting period.3 - Refers to the average lease rate for firm lease transactions entered in the TREB MLS® system between the first and last day of the reporting period.4 - Statistics Canada, Quarter-over-quarter annualized growth rate.5 - Statistics Canada, Year-over-year growth rate.6 - Bank of Canada, rates for most recently completed month.

GTA Condo ApartmentVacancy Rate

6

Source: CMHC, Rental Market Report

Source: CMHC, Rental Market Report

Rental Market Report, First Quarter 2016

18.4%

25.6%

32.4%

26.6%

15.3%

Halton Peel Toronto York Durham

0.6%

2.1%

1.8% 1.8%

1.4%

Halton Peel Toronto York Durham

Copyright® 2016 Toronto Real Estate Board

rental market report treb member inquiries: media/public ...€¦ · bedroom rent climbed by 8.9...

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