TREB Resale Market Figures
Tuesday Mar 05th, 2019
“Home sales reported through TREB’s MLS® System have a substantial impact on the Canadian economy. A study conducted by Altus for TREB found that, on average, each home sale reported through TREB resulted in $68,000 in spin-off expenditures accruing to the economy. With sales substantially lower than the 2016 record peak over the last two years, we have experienced a hit to the economy in the billions of dollars, in the GTA alone. This hit has also translated into lower government revenues and, if sustained, could impact the employment picture as well,” said Jason Mercer, TREB’s Director of Market Analysis and Service Channels.
The rental market continued to operate in a high demand, low inventory environment during the first two months of 2019. Strong competition between renters resulted in average rents for one bedroom and two-bedroom apartments leased through TREB’s MLS® System increasing well above the rate of inflation on a year-over-year basis for the January-February period. The average one-bedroom rent was up by 8.1 per cent to $2,145. The average two-bedroom rent was up by 7.4 per cent to $2,810.