Posts Tagged ‘renter’

On June 3rd, the Toronto Real Estate Board released it’s latest rental report.  The report measured transactions for the first 4 months of the year (Jan 1 to Apr 30,09) and found that 38% more deals had taken place compared to the same time last year. BUT there was also 60% more inventory, giving renters a bigger selection to choose from and more negotiating power.  Thus leading to a small decline in monthly rental rates.

The report suggests that the increase in transactions “can be attributed to a strong increase in the number of condominium apartment completions at the end of 2008.”  This may be one of the factors BUT my personal opinion is that a lot of sellers weren’t getting the prices they were hoping for, and instead electing to rent out their units until conditions improve.  Add to the mix, cautious buyers unsure of where the market was heading and we get the results of the 1st third of the year!  

May and June have brought a lot of activity back to the market and the next 4 months should give a clear indication of the direction of the market.  If you’d like to be part of the next reports results, give me a call…i’d love to help!  Click here for the full report!