April 2023 housing starts in Canada: 240,403 units, slight decline in overall trend, growth in Vancouver (36%), Toronto (54%), Montréal (43%), multi-unit starts offsetting declines in single-detached starts. Total SAAR at 261,559 units, urban starts up 26%, multi-unit starts up 33%, rural starts estimated at 19,974 units.
Q1 2023 GTA saw a 4% increase in condo rentals, but tight market conditions resulted in a significant YoY rent increase – 15.1% for one-bedroom and 9.2% for two-bedroom units.
The Greater Toronto Area’s housing market continued to tighten in April 2023, with fewer listings leading to more competition between buyers and supporting an improvement in selling prices.
Looking to maintain a positive relationship with your landlord or tenant? Check out our tips and tricks for tenants, including paying rent on time and keeping the rental unit clean, and for landlords, including keeping the property in good condition and communicating effectively. By following these guidelines, you can make your rental experience a pleasant one.
TRREB reports tighter market conditions and increased competition among buyers in the Greater Toronto Area (GTA), leading to higher average sale prices in March 2023.
Toronto’s February 2023 sales report shows a 47% decline in sales but stable prices. Increased buying intentions and a new housing initiative may support future growth.
Lower interest rates in 2023 bring hope for homebuyers, while sellers may benefit from market insights to achieve the best outcome. Real estate is complex and subject to economic factors.
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