Greater Toronto Area condo rental rates shoot up another 11.2 per cent.

Original article via Globe and Mail. Click here to read.

Rents continue their rapid rise in Toronto-area condominium leases in the second quarter of 2018, according to new data from analysts at Urbanation Inc.

Urbanation calculates that for an average-sized condo apartment (732 square feet), the monthly rent for new leases signed this spring hit $2,302, an increase of 11.2 per cent over similar leases signed in the same period in 2017. And there’s no signs of the trend slowing down: “The $231 average increase over the past year was the largest ever recorded by Urbanation, with rents having risen by $367 in two years,” the company said in a release.

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