VACANCY RATES IN NEW RENTALS CONTINUE TO CLIMB IN Q1
TORONTO – April 19, 2021: Urbanation Inc., the leading source of information and analysis on the GTA condominium and rental apartment markets since 1981, released its Q1-2021 rental market results today.
Vacancy Rises to 6.6% in Buildings Completed Since 2005 (13.0% per CMHC Methodology)
Urbanation tracked 1,293 commercial property sales in 2020, a decrease in volume of 8% from 2019. The total value of sales transacted in the GTA in 2020 was $16.6 billion, a decrease of 24% ($22 billion; 2019). The largest annual decline in 2020 was experienced by Toronto at -$4.3 billon (-36%), followed by Durham (-33%; -$382 million), Peel (-22%; $906 million), and York (-10%; -$307 million) Regions.
After recording a 21% quarterly decline in Q2-2020 amid the onset of the COVID pandemic, the total value of commercial property sales in the GTA increased by 36% quarter-over-quarter in Q3-2020 to $4.1 billion. On a year-over-year basis, the total value of GTA property sales was down 18% in Q3, an improvement from the 52% annual decline recorded in Q2. The total value of sales year-to-date was $10.8 billion, a decline of 37% from the same period in 2019.