Demand for condo leases appears to be easing slightly across the Toronto area, according to a condo research report.
A quarterly report from Urbanation said that a record 7,132 condos were rented between July and September, but the rate of demand seems to be slowing down.
The number of condo leases signed was up 10 per cent from the same time last year, but normally the annual growth is closer to 20 per cent, Urbanation said.
The report also showed that condo rates essentially haven't changed compared to a year ago, averaging $1,870 per month. With growth rates slowing, Urbanation said it's likely rental rates will continue to remain flat rather than increasing annually.
The average size of condos rented increased from 755 to 767 square feet, the report noted.
