The Toronto Real Estate Board (TREB) reports today that the rent for 1 bedroom dwelling has increased by 2% and 2 bedroom rent has increased by 5% year over year.
Overall, listings have dropped by 10% in the Toronto area. One important factor affecting annual rental rate growth was the supply of listings. Active listings
for rental condominium apartments fell 10 per cent compared to the first four months of 2009. In the second half of 2009, condominium apartment completions were down by 30 per cent annually.
See the TREB report here
TREB Rental Market report