If you think that renting Toronto couldn’t be more expensive, you probably don’t want to read the conclusions of the new liv.rent June report, because somehow prices went up again, with the increase in rent month by month. largest of GTA. so far this year.
According to the report, the average rental price for units of a bedroom without furniture in the GTA has risen by $ 140 this month, reaching a new annual high of $ 1,945. In downtown Toronto specifically, an unfurnished one-bedroom unit now costs an average of $ 2,103 a month.
GTA rental trend. Source: liv.rent
“The warmer months almost always bring higher rental prices to Canadian rental markets, and this June is no different,” the report says. “Prices rose in almost every GTA township this month, especially for unfurnished rentals.”
Markham (13.04%), Vaughan-Richmond Hill (12.95%), Mississauga (8.29%) and North York (4.17%) experienced some of the most significant month-over-month increases, compared to downtown Toronto gain. of 3.12 percent.
According to the report, there was no drop in the prices of one-bedroom units without furniture in any Ontario municipality this month.
It is a similar story for furnished rents, with the most significant increase reported in Brampton (17.55%), Markham (16.67%) and downtown Toronto (11.34%). However, there were some declines in this category, the most significant being in North York (-8.84%) and Mississauga (2.93%).
“For some time now, the gap in average rental prices for furnished and unfurnished tenants has been narrowing in the GTA,” the report notes.
“This June, furnished one-bedroom units are just more expensive than unfurnished ones for just $ 37. their own furniture. “
Brampton kept its GTA title less expensive, according to the report, while, surprisingly, downtown Toronto remains the most expensive.