TREB’s Rental Market Report (Sep to Dec 2007)
The rental transaction through Toronto MLS rose 6 per cent in 2007 to 9,286 condominium apartment/townhomes rented in Greater Toronto Area. In 2007, 3,837 units were leased in GTA between May and August 2007, with transactions moderating in the latest reporting period.
TREB’s active West end was the site of 525 leased apartment transactions during the last four months of 2007. In addition, 116 condominium townhouses were also leased, making the Western districts the most active area for this property type. Two-bedroom units, the most common category of apartment (304 units leased), leased for $1,615 per month in the West. Three bedroom town-houses, the most common category of townhouse (78 units leased), rented for $1,570 per month.
Mississauga City Centre
The Mississauga Square One condo market looks tight. Out of above 524 condos apartments, 209 condo apartments were leased in Mississauga City Centre (W15) and surrounding area. One-bedroom units leased $1,290 per month, two bedroom units for $1,519 per month and three bedroom units for $ 1,957 per month.
W19 and W20 West Mississauga Average Rent
W19 and W20 TREB districts include Mississauga West (Eglinton/Hwy 10, Erin Mills area South of Eglinton, Credit Pointe, Churchill Meadows, Mavis/Eglinton area, Heartland Centre area, Meadowvale, Britannia/ Terry Fox, Mavis/Derry, Derry/Ninth Line, Winston Churchill/Britannia, Erin Mills Pk Way/ Eglinton, Streetsville, Glen Erin/Thomas St.)
One-bedroom condo apartment rented for $1,209 and $1,221 per month in W19 and W20 TREB districts respectively. Two-bedroom condo apartment rented for $1,682 and $1,456 per month in W19 and W20 respectively. Three bedroom condo townhouse rented for $1,367 and $1,381 per month in W19 and W20 respectively.
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Related article: Condominium apartment rental market 2008 outlook