Rental Transactions Continue to Increase in Q1 2015

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1 First Quarter 2015 Economic Indicators Real GDP Growth Q t 2.4% Toronto Employment Growth ii March 2015 u -0.4% Toronto Unemployment Rate March 2015 u 7.3% Inflation (Yr./Yr. CPI Growth) February 2015 t 1.0% Bank of Canada Overnight Rate March 2015 q 0.75% Prime Rate March 2015 q 2.85% Fixed 5-Year Mortgage Rate March 2015 q 4.74% S ources: S tatistics Canada ; Bank of Canada Rental Market Summary: First Quarter 2015 Apartments 1,2,3 Rental Transactions Continue to Increase in Q Toronto, April 17, 2015 Toronto Real Estate Board President Paul Etherington announced that condominium apartment rental transactions and listings reported by Greater Toronto Area REALTORS were up strongly on a year-over-year basis in the first quarter of The total number of units rented was up by 20.9 per cent to 6,074. A very similar annual growth rate of 20.2 per cent was noted for the number of units listed during the first quarter, with the number climbing to 13,409. Two-thirds of condo apartment rental transactions took place in TREB's central districts within the City of Toronto. There are many renter households in the GTA and this number continues to increase as our population grows each year. As a result, demand has been strong, keeping vacancy rates low. This is why, even as more investor-held units became available for rent over the past year, many of these units were absorbed in short order. Condo apartments appeal to renters looking to take advantage of new, modern apartments located in popular locations in the City of Toronto and surrounding regions," said Mr. Etherington. The great majority of condo apartment rentals were accounted for by one-bedroom and two-bedroom units. The average one-bedroom rent was up by 0.8 per cent year-overyear to $1,585. The average two-bedroom rent was up by 1.1 per cent year-over-year to $2,180. "There was enough demand from renter households in the first quarter to see moderate average rent increases for the popular one-bedroom and two-bedroom apartment types. The fact that new listings continued to be absorbed speaks to the fact that the GTA rental market remains tight and investor-held condo units make up an important segment of the overall rental stock," said Jason Mercer, TREB's Director of Market Analysis. All Bedroom Types Bachelor One-Bedroom Two-Bedroom Three-Bedroom Listed Leased Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent TREB Member Inquiries: (416) Media/Public Inquiries: (416) Total TorontoMLS Apartment Rentals 1,3 6,074 5,025 Q Q TorontoMLS Avg. 1-Bdrm. Apt. Rent 1,3 Q ,409 6, $1,325 3,576 $1,585 2,221 $2, $2,777 Q ,158 5, $1,346 2,997 $1,572 1,804 $2, $2,746 Yr./Yr. % Chg. 20.2% 20.9% 39.8% -1.6% 19.3% 0.8% 23.1% 1.1% 7.2% 1.1% $1,585 $1,572 Townhouses 1,2,3 All Bedroom Types Bachelor One-Bedroom Two-Bedroom Three-Bedroom Listed Leased Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent Q $ $1, $1, $2,025 Q $1, $1, $1, $1,947 Yr./Yr. % Chg. 18.3% 22.2% 50.0% -19.0% 6.1% 9.7% 52.3% -5.2% 7.1% 4.0% Q Q1 2014

2 APARTMENTS, FIRST QUARTER 2015 ALL TREB AREAS TREB Total 13,409 6, $1,325 3,576 $1,585 2,221 $2, $2,777 Halton Region $1, $2,007 2 $1,525 Burlington $1,396 2 $2,113 1 $1,450 Halton Hills Milton $1, $1, Oakville $1, $2,221 1 $1,600 Peel Region $1, $1, $1, $2,014 Brampton $1, $1,420 1 $1,800 Caledon Mississauga $1, $1, $1, $2,023 City of Toronto 11,130 4, $1,325 3,013 $1,617 1,712 $2, $3,091! TURN PAGE FOR CITY OF TORONTO TABLES OR CLICK HERE: All Apartments Bachelor One-Bedroom Two-Bedroom Three-Bedroom York Region 1, $1, $1,805 8 $2,220 Aurora $2, E. Gwillimbury Georgina King $1,200 3 $1, Markham $1, $1,732 6 $2,138 Newmarket $1, Richmond Hill $1, $1,821 1 $2,350 Vaughan $1, $1,950 1 $2,585 Whitchurch-Stouffville $2, Durham Region $1,361 5 $1,310 1 $1,650 Ajax $1, $1,650 Brock Clarington $1,297 3 $1, Oshawa $1, Pickering $1,433 1 $1, Scugog Uxbridge Whitby $1, Dufferin County Orangeville Simcoe County $1, Adjala-Tosorontio Bradford West Gwillimbury $1, Essa Innisfil New Tecumseth

3 APARTMENTS, FIRST QUARTER 2015 CITY OF TORONTO MUNICIPAL BREAKDOWN All Apartments Bachelor One-Bedroom Two-Bedroom Three-Bedroom TREB Total 13,409 6, $1,325 3,576 $1,585 2,221 $2, $2,777 City of Toronto Total 11,130 4, $1,325 3,013 $1,617 1,712 $2, $3,091 Toronto West 1, $1, $1, $1, $2,204 Toronto W $1, $2,107 1 $1,750 Toronto W $1, $2, Toronto W $1, Toronto W $1, $1, Toronto W $1, $1,475 6 $1,492 2 $1,485 Toronto W $1, $1, $2,109 4 $3,068 Toronto W $1,445 2 $1, Toronto W $1, $1,897 2 $1,775 Toronto W $1, Toronto W $1, $1,431 1 $1,500 Toronto Central 9,045 4, $1,342 2,519 $1,652 1,351 $2, $3,424 Toronto C01 4,633 2, $1,335 1,336 $1, $2, $3,410 Toronto C $1, $1, $5,030 5 $6,113 Toronto C $1, $2, Toronto C $1,578 7 $2,403 3 $2,167 Toronto C $1,375 9 $1,822 2 $1,875 Toronto C $1, $1, $2,008 5 $2,700 Toronto C08 1, $1, $1, $2,468 1 $8,500 Toronto C $2,000 9 $2,700 1 $8,500 Toronto C $1, $1, $2, Toronto C $1,367 8 $1, Toronto C $1,815 8 $2,939 1 $2,400 Toronto C $1, $1, $1, Toronto C $1, $1, $2,008 7 $2,519 Toronto C $1, $1, $1,941 5 $2,362 Toronto East $1, $1, $1, $1,848 Toronto E $ $1,892 3 $2, Toronto E $1,620 4 $2, Toronto E $850 5 $1,510 1 $1,600 Toronto E $1,268 7 $1,513 1 $1,650 Toronto E $1, $1,638 3 $1,808 Toronto E $1, Toronto E $1, $1,527 2 $1,600 Toronto E $1,100 7 $1, Toronto E $1, $1, $1,686 3 $2,200 Toronto E $1,300 2 $1, Toronto E $1,225 3 $1,

4 TOWNHOUSES, FIRST QUARTER 2015 ALL TREB AREAS TREB Total $ $1, $1, $2,025 Halton Region $1, $1, $1,860 Burlington $1,600 2 $1,600 2 $1,913 Halton Hills $1,350 Milton Oakville $1, $1,943 Peel Region $ $1, $1, $1,812 Brampton $1, $1,598 Caledon Mississauga $ $1, $1, $1,839 City of Toronto $1, $1, $2, $2,454! TURN PAGE FOR CITY OF TORONTO TABLES OR CLICK HERE: All Apartments Bachelor One-Bedroom Two-Bedroom Three-Bedroom York Region $1, $1, $1,955 Aurora $1,580 2 $1,650 E. Gwillimbury Georgina $2,100 King Markham $1, $1,826 Newmarket Richmond Hill $1,475 5 $1,810 Vaughan $1,450 3 $1,717 5 $2,555 Whitchurch-Stouffville Durham Region $1,405 4 $1,623 Ajax $1,573 Brock Clarington Oshawa Pickering $1,674 Scugog Uxbridge Whitby $1, Dufferin County $1, Orangeville $1, Simcoe County Adjala-Tosorontio Bradford West Gwillimbury Essa Innisfil New Tecumseth

5 TOWNHOUSES, FIRST QUARTER 2015 CITY OF TORONTO MUNICIPAL BREAKDOWN All Apartments Bachelor One-Bedroom Two-Bedroom Three-Bedroom TREB Total $ $1, $1, $2,025 City of Toronto Total $1, $1, $2, $2,454 Toronto West $1, $1,869 7 $2,478 Toronto W $1, Toronto W $1,994 2 $1,950 Toronto W Toronto W $1, Toronto W $1,105 1 $1,500 1 $1,799 Toronto W $1,771 2 $3,800 Toronto W Toronto W $1,600 2 $2,025 Toronto W $1, Toronto W Toronto Central $1, $1, $2, $2,695 Toronto C $1, $1, $2,407 5 $3,509 Toronto C $2,650 2 $3,250 2 $5,125 Toronto C Toronto C Toronto C Toronto C $1,453 3 $2,032 Toronto C $1,595 2 $2,463 2 $2,650 Toronto C $3,400 1 $4,500 Toronto C $1,750 2 $1, Toronto C Toronto C $2,943 Toronto C $2,700 Toronto C $1,499 9 $2,094 6 $2,947 Toronto C $2, $1,798 Toronto East $1,575 9 $1, $1,716 Toronto E $1,575 2 $1,925 1 $1,450 Toronto E $2,017 1 $2,200 Toronto E Toronto E $1,300 Toronto E $1,600 Toronto E Toronto E $1,887 Toronto E Toronto E $1,583 1 $2,200 Toronto E $1,550 Toronto E $1,600 5

6 13.7% 15.5% 25.6% 23.8% 31.3% Toronto Real Estate Board Share of GTA Condo Apartments In Rental Halton Peel Toronto York Durham Source: CMHC, 2014 Fall Rental Market Survey GTA Condo Apartment Vacancy Rate 2.1% 0.8% 1.2% 1.3% 0.8% NOTES 1 Refers to the total number of rental units that were available during the reporting period. 2 Refers to firm lease transactions entered in the TorontoMLS system between the first and last day of the reporting period. 3 Refers to the average lease rate for firm lease transactions entered in the TorontoMLS system between the first and last day of the reporting period. 4 Statistics Canada, Quarter-over-quarter annualized growth rate. 5 Statistics Canada, Year-over-year growth rate. Halton Peel Toronto York Durham Source: CMHC, 2014 Fall Rental Market Survey 6 Bank of Canada, rates for most recently completed month. 6