TREB’s Rental Market Report (May to Aug 2008)
Both leased transactions through the TorontoMLS system and monthly rents achieved in these transactions climbed in the second four-month period of 2008. Total units rented came to 4,297 (apartments and townhouses), up 12 per cent over the same timeframe in 2007.
West Area
The Toronto Real Estate Board’s Western districts continue to be the most active for rentals outside of downtown Toronto, with 855 condominium apartment rentals in the last four month period, up 27 per cent over the 673 units leased in 2007. One and two-bedroom units dominated Western area leased transactions, with 296 one-bedrooms leased for an average of $1,352 per month, and 510 two-bedrooms leasing for $1,602 per month. The West area is the most active in the GTA for condominium townhouse rentals. During the last reporting period, 175 units leased in total. Most (141) of these were three-bedroom units, which went for an average of $1,607 per month, up four per cent over the figure recorded during May to August 2007 of $1,544 per month.
Mississauga City Centre
The Mississauga Square One condo market looks tight. Out of above 620 condos apartments, 402 condo apartments were leased in Mississauga City Centre (W15) and surrounding area. One-bedroom units leased for an average of $1,319 per month, two bedroom units for $1,568 per month and three bedroom units for $ 1,914 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 $1,249 and $1,279 per month in W19 and W20 TREB districts respectively. Two-bedroom condo apartment rented for $1,604 and $1,499 per month in W19 and W20 respectively. Three bedroom condo townhouse rented for $1,476 and $1,555 per month in W19 and W20 respectively.
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Full Report
Toronto Real Estate Board’s Mississauga Rental Market Report (May-Aug 08)
