For the last three months, the Toronto rental market has seen a resurgence in activity.
The Toronto Real Estate Board says the market has hit new heights.
The market is now at its peak.
This is the highest number of rental listings in a year.
There are 2,907 listings on the market.
In the last year, the market was around 1,400.
The Toronto rental property market is growing in volume as people are looking to live in Toronto, said Jason Dorn, a spokesperson for the Toronto Real Property Board.
This is a very good time to be in Toronto and in many cases, people are taking advantage of it.
The average rent in Toronto is $1,600.
In a typical year, there are about 10,000 properties available to rent, Dorn said.
A couple of months ago, the number of listings had been down, but now it’s back up to around 2,900.
The rental market is showing signs of stabilizing, but it could take some time for people to find a place to live, said Dorn.
The city has seen some dramatic price increases, like the sale of a two-bedroom condo in the city’s east end that was $1.5 million.
There’s also a new trend in renting out apartments.
Rents are starting to be more affordable, he said.
In a recent article for the National Post, housing reporter David Zimbalist talked about the rising cost of housing.
Zimbalism said that rents in the Toronto market are going up because the number one rental for people looking to rent is going up.
He said it’s the fastest growth of any rental market in Canada.
The increase in rental prices comes after an average increase of 5.2 per cent in the GTA last year.
The average rent for a two bedroom in Toronto increased by $2,800 last year to $1 and $2.50 a week, respectively.
In Calgary, rents increased 5.6 per cent last year and in Vancouver, it went up 4.7 per cent.
Rent prices are now at their highest level since January, when they were just under $1 per week.
In Toronto, rents are increasing at a faster rate than any other rental market.
“I’m really concerned that this market is going to go crazy,” said Denn, who added that it could be a few years before we see any price increases.