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Jared Rogers
Broker, BBA

RE/MAX West Realty Inc.
Independently owned and operated

570 Bloor Street West, Toronto, Ontario M6G 1K1

Phone: 416-588-6777  Fax: 416-588-3364  Mobile: 905-208-1121

Rental Market Condition

June 22, 2011 - Updated: June 22, 2011

June 21st

Rental Market updates by TREB indicated the number of leases from January to April is up 18% from last year.  One reason for the increased number of renters is because of the ‘unknown’ in housing prices.  People are scared of over inflated pricing in housing, and are expecting a price decrease.  The majority of ‘would be buyers' are staying put rather than purchasing. 

Another reason for the increase in renters is the home renovation tax credit Canadians were given last year.  A large number of people spent they’re hard earned money and savings to update their properties for rental purposes.  Whether they added a new room or built an addition to they’re basement, it’s opened the supply for more renters in the marketplace.  Also, the net migration into the GTA continues to climb.  This has helped the demand for rental prices stay competitive.

Follow me on twitter for up to date real estate news @jaredrogers_ca

Tagged with: june rental market gta condition
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