Toronto-Area Condo Rental Prices Drop for First Time in 3 Years

Published on July 30, 2024

Rent prices for condos in Toronto dropped for the first time in three years, according to recent industry numbers. A report by Urbanation, a research company in the condominium space, says average rent prices for the Greater Toronto Hamilton Area (GTHA) dropped 1.2 percent in the second quarter of 2024 when compared to 2023 rates. It is the first decline since the second quarter of 2021, the report said. “Rents are experiencing some softening mainly due to a temporary spike in condo completions, which will subside following the steep drop off in new condo sales and construction activity,” said Shaun Hildebrand, president of Urbanation, in the report. “While some recent improvement to rental construction has been occurring, the level of starts for rentals remains much too low to keep pace with demand over the longer-term.”...

Continue reading on website
Other news

CPSC: Amazon Responsible for Hazardous Products Sold by 3rd-Party Sellers, Recalls

July 30, 2024
The U.S. Consumer Product Safety Commission (CPSC) on Tuesday issued a unanimous decision and order finding Amazon.com Inc. responsible for distributing products that pose significant safety risks to consumers.This determination includes more than 400,000 units of faulty carbon monoxide detectors, hairdryers lacking electrocution protection, and children’s sleepwear that does not meet federal flam

LIVE NOW: Senate Foreign Relations Committee Hearing on the Future of Europe

July 30, 2024
The Senate Foreign Relations Committee holds a subcommittee hearing to examine “The Future of Europe.” This hearing begins at 2:30 p.m. ET on July 30.Witnesses:The Honorable James O’ Brien, Assistant Secretary of State for European and Eurasian Affairs, U.S. Department of State, Washington, D.C....