![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/04\/toronto-rental-market.jpg\")
<\/a><\/p>\nPhoto: JasonParis\/Flickr<\/a><\/em><\/p>\n Toronto condo rent increases didn\u2019t relent in the first quarter of the year, with the average for a two-bedroom unit closing in on $3,000 a month.<\/p>\n According to the Toronto Real Estate Board (TREB)\u2019s Rental Market Report for Q1 2019, the average two-bedroom condo apartment rent in the GTA was $2,811, up 6 percent over the same three-month period last year. One-bedroom rents across the area averaged $2,143, a year-over-year increase of 7.4 percent.<\/p>\n Meantime, a total of 12,358 condo units were listed for rent via TREB\u2019s online service throughout the quarter, rising 22.4 percent annually. While that provided some relief, it wasn\u2019t enough to keep rents in check and current conditions still suggest strong interest from renters.<\/p>\n\n \u201cIt makes sense that we continued to see an increase in condominium apartment rentals during the last quarter. The GTA\u2019s population continues to grow as people are attracted to the region by its strong economy and diversity,\u201d says TREB President Garry Bhaura in a statement<\/a>.<\/p>\n TREB reports 6,646 condo apartments were leased in the first quarter, climbing 7.7 percent compared to year-ago rental activity.<\/p>\n \u201cThe bottom line is you\u2019re still seeing a lot of demand for rental accommodation,\u201d Jason Mercer, TREB\u2019s chief market analyst, tells Livabl. \u201cWhen that\u2019s the case, you get competition between potential renter households, and that exerts upward pressure on rents,\u201d he adds. This competition could include bidding wars over units, a phenomenon that has been reported on in Toronto and Vancouver for some time<\/a>.<\/p>\n Speaking to the increase in listings observed this past quarter, Mercer emphasizes \u201cone quarter doesn\u2019t make a trend.\u201d<\/p>\n