Photo: Juni Xu/Flickr
In Q3, the GTA’s condo rental market saw conditions tighten as the year-over-year rate of growth for leases outpaced growth in the listings on the market.
But how does that play out in Toronto’s most popular condo ‘hoods? According to the latest report by the Toronto Real Estate Board (TREB), nearly 80 per cent of all condos leased in the GTA last quarter were located in Toronto-proper.
The districts in the city that see the most listings and leases are:
- C01, which stretches north-to-south from Bloor Street to the lake, Yonge Street in the east and the rail tracks off of Dufferin in the west.
- C08, which is bordered by the lake and Bloor Street south-to-north, Yonge Street in the west, and the Don Valley River in the east.
- C14, bordered by Highway 401 in the south, Steeles Avenue to the north, Bayview in the east and Yonge Street to the west.
We took a closer look at the numbers to see how these districts have changed since Q1 2012. In less than two years, these districts have seen a staggering amount of new leases and listings. Here’s what we found:
- The 2,560 suites leased in C01 was the highest amount of rentals reached in the district since 2012.
- C08 didn’t see the same type of conditions as its downtown neighbour, C01. The amount of listings in Q3 2014 (814), was lower than the same time last year (938). Leases barely budged, with Q3 2014 recording 572 leases and Q3 2014 seeing 571.
- C14 saw the most striking growth. In Q3, listings reached 1,072 and leases rose to 713, their highest levels in the last two years.
For more details, check out the charts below.