New condominium apartment listings were also down on a year-over-year basis by 10 per cent to 9,845 in Q compared to 10,967 in Q

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1 Condo Market Report Third Quarter Economic Indicators Real GDP Growth Q2.5% Condo Market Conditions Remain Tight in Q TORONTO, ONTARIO, October 2, President Tim Syrianos reported continued average price growth on a year-over-year basis for condominium apartments listed and sold through TREB s MLS System by Greater Toronto Area REALTORS. The average selling price was $5,2 in Q up by. per cent compared to the average of $5,89 reported in Q. TREB Member Inquiries: () -852 Media/Public Inquiries: () -858 Total TREB MLS Condo Apartment Rentals, Toronto Employment Growth September 2.% Toronto Unemployment Rate September.% The condominium apartment market segment has exhibited the strongest average rates of price growth since the spring, relative to other major market segments. Competition between buyers remains strong, as listings remain below last year s very constrained levels. Over the past few months, TREB has participated in discussions at various levels of government pointed at developing solutions for the housing supply issue in the GTA. As these discussions continue, it will be important to remember that the condominium apartment market is not immune to a listings shortage, said Mr. Syrianos. 5,8,99 Inflation (Yr./Yr. CPI Growth) August.% Bank of Canada Overnight Rate September.% Prime Rate September.2% Mortgage Rates September Year Year 55 Year Sources and Notes: i - Statistics Canada, Quarter-over-quarter growth, annualized ii - Statistics Canada, Year-over-year growth for the most recently reported month iii - Bank of Canada, Rate from most recent Bank of Canada announcement iv - Bank of Canada, rates for most recently completed month.9%.59%.89% TREB will also be paying close attention to the potential impacts of the new OSFI Guideline B- 2 concerning new mortgage rules and underwriting standards, and the possibility of a vacancy tax in the City of Toronto. We will be asking consumers about their opinion on these initiatives, from the prospective of buying and selling intentions, during our fall polling cycle, continued Mr. Syrianos. There were 5,8 condominium apartment sales reported through TREB s MLS System in the third quarter of. This result was down from,99 sales reported during the same period in. New condominium apartment listings were also down on a year-over-year basis by per cent to 9,85 in Q compared to,9 in Q. Condominium apartments will likely account for a greater share of home sales as we move forward. Consumer polling undertaken for TREB by Ipsos in the spring pointed to increased buying intentions for condominium apartments. With this in mind, it is not surprising that we have continued to see robust price growth, as demand has remained strong relative to available listings, said Jason Mercer, TREB s Director of Market Analysis. Condominium Apartment Market Summary Third Quarter Total TREB Halton Region Peel Region City of Toronto York Region Durham Region Other Areas, Sales Average Price Sales Average Price 5,8 $5,2,99 $5,89 8 $8,52 $9,9 $8,, $,,5 $52,92 5, $,2 9 $,5 88 $9, $8,855 2 $2,8 $,82 $2, Third Quarter Third Quarter TREB MLS Average Condo Apartment Price $5,2 $5,89 Third Quarter Third Quarter Year-Over-Year Summary Sales New Listings Active Listings Average Price Average DOM i Active listings refer to last month of quarter. % Chg. 5,8, % 9,85,9 -.2%,92,95 -.% $5,2 $5,89.% -2.%,,

2 ALL TREB AREAS THIRD QUARTER SUMMARY OF CONDOMINIUM APARTMENT TRANSACTIONS Sales TREB Total Halton Region Burlington Halton Hills Milton Oakville Peel Region Brampton Caledon Mississauga City of Toronto Toronto West Toronto Central Toronto East York Region Aurora E. Gwillimbury Georgina King Markham Newmarket Richmond Hill Vaughan Whitchurch-Stouffville Durham Region Ajax Brock Clarington Oshawa Pickering Scugog Uxbridge Whitby Dufferin County Orangeville Simcoe County Adjala-Tosorontio Bradford West Gwillimbury Essa Innisfil New Tecumseth Dollar Volume Average Price Median Price New Listings 2 Active Listings Avg. SP / LP Avg. DOM 5 5, ,5 85 2, $2,9,, $8,9,9 $,55,999 $,28,5 $,,5 $2,895, $289,9,9 $9,99, $55, $9,2, $2,2,95,98 $,92, $,,589,5 $,,55 $2,5,9 $5,5, $5, $88, $95,82,2 $,85, $5,,88 $,9,5 $82, $,, $5,, $5,8, $5,2,8 $2,985,8 $,299,9 $,89,2 $,8,5 $,8,5 $2,2, $, $5,2 $8,52 $, $2, $,5 $5,2 $8, $, $55, $8,95 $52,92 $,8 $,5 $92, $,5 $55, $5, $88, $, $,82 $5, $5,2 $82, $8,855 $5, $5,2 $2,99 $8,89 $, $99, $28, $28, $,28 $, $5, $8, $5, $29, $,5 $,5 $, $, $55, $5, $5, $2, $52, $,5 $5, $8, $5, $88, $5, $5, $,5 $, $82, $5, $5, $, $2, $8, $89,9 $9,95 $82, $82, $, $, 9, , 9,2,85,98,99 9, , ,2 5, % 9% 9% % 28% % 2% % % % % $, $,52, $, $, $, $9, % 58 2 Condo Market Report, Third Quarter 2

3 CITY OF TORONTO THIRD QUARTER SUMMARY OF CONDOMINIUM APARTMENT TRANSACTIONS Sales TREB Total City of Toronto Total Toronto West Toronto W Toronto W2 Toronto W Toronto W Toronto W5 Dollar Volume Average Price Median Price New Listings 2 Active Listings Avg. SP / LP Avg. DOM 5 5,8,5 85 $2,9,, $2,2,95,98 $,92, $5,,88 $5,2 $52,92 $,8 $52,992 $5, $5, $2, $9, 9,85,85,98 99,92 2,2 5 8 % 2 Toronto W Toronto W Toronto W8 Toronto W9 Toronto W Toronto Central Toronto C Toronto C2 Toronto C Toronto C Toronto C Toronto C Toronto C8 Toronto C9 Toronto C Toronto C Toronto C2 Toronto C Toronto C Toronto C5 Toronto East Toronto E Toronto E2 Toronto E Toronto E Toronto E5 Toronto E Toronto E Toronto E8 Toronto E ,8, $2,,889 $5,,8 $,9,55 $2,95,99 $,82,5 $,28,5 $92,8, $,, $2,9, $,,589,5 $28,,2 $,92,8 $,95,52 $,,98 $2,,5 $89,,9 $2,82,5 $2,5,999 $58,9, $2,58, $9,5, $28,, $5,8, $9,, $,,55 $2,,98 $2,8,8 $,82,9 $,, $28,, $2,8,9 $,5, $5,99, $,,55 $59,2 $,52 $5,9 $282,8 $5, $55,88 $, $2, $5,9 $,5 $,8 $,,92 $5, $9,8 $8,52 $58,2 $59,9 $9,5 $8,55 $,5 $,82,29 $29,959 $5,5 $5,9 $92, $28, $9,5 $2, $,98 $,9 $8,98 $8,55 $,88 $8,2 $59,5 $52, $55, $292,5 $5,5 $,5 $, $2, $2, $52, $55, $8,5 $58, $5, $5, $5, $5, $8,5 $58, $9,9 $,55, $2, $9, $,5 $,5 $55, $95, $292,5 $8, $92, $5,5 $82, $, $, ,99, , % 2% 9% % % % % 9% 2% % Toronto E Toronto E $,5, $,,5 $5,5 $,55 $2,5 $, % 2 Condo Market Report, Third Quarter

4 Condominium Apartment Market Summary Share of Total Condo Apartment Sales By TREB Area Condo Apartment Sales by Price Range (All Areas) 2% % 8% -99,999 % City of Toronto Peel Region York Region Durham Region Halton Region Selling Price Range 2K-299,999 K-99,999 K-99,999 5K-599,999 K-99,999 K-99,999 8K-899,999 9K-999,999,,+ % 5,,5 2, Number of Sales Share of Total Condo Apartment Sales By Bedroom Type (All Areas) Condo Apartment Price by Bedroom (All Areas) % % 2% 2% Bachelor % $, $5, $, $55, $5, $5, $, $5, $, $, $2, $5, $, $5, $ Bachelor + Den + Den 2% Average Selling Price Three Bedroom Total Median Selling Price Condo Market Report, Third Quarter

5 Sub-Market Breakdown: Downtown Core Condo Apartment Sales by Price Range (Downtown Core) -99,999 2K-299,999 Selling Price Range K-99,999 K-99,999 5K-599,999 K-99,999 K-99,999 8K-899,999 9K-999,999,,+ 2 Condo Apartment Price by Bedroom Type (Downtown Core) $,, $,, $,2, $,, $,, $9, $8, $, $, $5, $, $, $2, $, $ Number of Sales Condo Apartment Sales By Bedroom Type (Downtown Core) 8 Bachelor Bachelor Average Selling Price Median Selling Price Total 2 5 Condo Market Report, Third Quarter 5

6 Sub-Market Breakdown: North York City Centre Condo Apartment Sales by Price Range (North York City Centre) -99,999 2K-299,999 Selling Price Range K-99,999 K-99,999 5K-599,999 K-99,999 K-99,999 8K-899,999 9K-999,999,,+ 8 Number of Sales Condo Apartment Price by Bedroom Type (North York City Centre) $8, $5, $, $5, $, $55, $5, $5, $, $5, $, $, $2, $5, $, $5, $ Condo Apartment Sales By Bedroom Type (North York City Centre) Bachelor 8 2 Average Selling Price Median Selling Price Total Condo Market Report, Third Quarter

7 Sub-Market Breakdown: Mississauga City Centre Condo Apartment Sales by Price Range (Mississauga City Centre) -99,999 2K-299,999 Selling Price Range K-99,999 K-99,999 5K-599,999 K-99,999 K-99,999 8K-899,999 9K-999,999,,+ 2 Number of Sales Condo Apartment Price By Bedroom Type (Mississauga City Centre) $, $55, $5, $5, $, $5, $, $, $2, $5, $, $5, $ Condo Apartment Sales By Bedroom Type (Mississauga City Centre) Bachelor Den Average Selling Price + Den Total Median Selling Price Condo Market Report, Third Quarter

8 Rental Market Summary Number of Units Listed Q vs. Q, 5,5 5,,5,,5, 2,5 2,,5, 5 Downtown Core North York City Centre Mississauga City Centre The Pace of Average Rent Growth Continues Well-Above Inflation Greater Toronto Area REALTORS reported 8, condominium apartment lease transactions through TREB s MLS System during the third quarter of. This result was down from 9,5 rentals in Q. The number of condominium apartments listed for rent at some point during the second quarter was down on a year-over-year basis by.9 per cent to,5. The average one-bedroom condominium apartment rent for the TREB market area as a whole was up by.2 per cent year-over-year to $,9. The average two-bedroom rent was up by. per cent year-over-year to $2,. Number of Units Rented Q vs. Q,5 Average One-Bedroom Rents Q vs. Q $2,,,5 $2,, $, 2,5 2, $,2,5 $8, 5 $ Downtown Core North York City Centre Mississauga City Centre $ Total TREB Downtown Core North York City Centre Mississauga City Centre Condo Market Report, Third Quarter 8

9 Share of GTA Condo Apartments In Rental.% 28.% 2.9% 8.% Halton.2% Peel Toronto York Durham Source: CMHC, Rental Market Report GTA Condo Apartment Vacancy Rate.%.%.%.% NOTES.% Halton Peel Toronto York Durham - Sales, dollar volume, average sale prices and median sale prices are based on firm transactions entered into the TREB MLS system between the first and last day of the quarter being reported. 2 - New listings entered into the TREB MLS system between the first and last day of the quarter being reported. - Active listings as of the end of the last day of the quarter being reported. - Ratio of the average selling price to the average listing price for firm transactions entered into the TREB MLS system between the first and last day of the quarter being reported. 5 - Average number of days on the market for firm transactions entered into the TREB MLS system between the first and last day of the quarter being reported. - Past monthly and year-to-date figures are revised monthly. Source: CMHC, Rental Market Report Copyright Condo Market Report, Third Quarter 9