Average Rent Across All Property Types in the GTA Down 12.9% Annually
byAfter 10 consecutive months of decline.
After 10 consecutive months of decline.
But it’s not all good news.
While average monthly rents continue to fall…
The “rent free fall” is coming to an end.
Average monthly rent for a one-bedroom in Toronto was down 15% in September.
These neighbourhoods saw average rents decline between 11% and 16% annually.
Lower immigration, fewer students, and less need to be close to work is decreasing demand for rents.
Even after a dozen police squad cars reportedly showed up.
Like living at a five-star hotel.
For “most rent-controlled and non-rent-controlled residential units” in 2021.