This week the Toronto Real Estate Board (TREB) has published its quarterly reports on the resale condo market as well as the condo rental market.
The latest Condo Market Report and Rental Market Report showed strong annual growth in sale prices and rents in the Greater Toronto Area.
The gains come in the wake of Ontario’s Fair Housing Plan, which includes measures affecting both segments — namely, rent control and a foreign-homebuyer tax.
“Many households, especially first-time buyers looking to live in the City of Toronto, have turned their attention in increasing numbers to less expensive forms of ownership housing,” writes Jason Mercer, TREB’s director of market analysis, in a statement about condo demand.
But don’t just take Mercer’s words for it. Here are 17 facts showing how Toronto’s condo market stood tall in Q2 2017.
1. GTA condos sold for an average of $532,032 during this year’s second quarter.