Condo rents are rising in Toronto, says a rental market report by the Toronto Real Estate Board, with lease prices up in every category from January to April and the benchmark two-bedroom rate up 2% from $1,725 a month to $1,765.
Here's a breakdown of average rents:
CENTRAL AREA -
One-bedroom condo -- $1,418
Two-bedroom condo -- $2,018
Three-bedroom townhome -- $2,367.
EAST AREA
One-bedroom condo -- $1,103
Two-bedroom condo -- $1,361
Three-bedroom townhome -- $1,218
NORTH AREA
One-bedroom condo -- $1,209
Two-bedroom condo -- $1,565
Three-bedroom townhome -- $1,756
WEST AREA
One-bedroom condo -- $1,265
Two-bedroom condo -- $1,565
Three-bedroom townhome -- $1,701
Another report by RBC Economics points out average condo prices in Ontario jumped 7% last year to $306,453, while price gains for detached homes are slowing.
For more Toronto real estate news, listings and info go here - http://www.torontogreathomes.com
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