The GTA's rental supply was notably high in 2022 - as were the prices. CMHC_ca | realestate realestatenews GTA Toronto rentals
. That said, rents for those units were, outlandishly, 45.4% higher than the average rent for all units, leaving calls for better affordability in the rental sector largely unanswered.
“While rental supply increased, it couldn’t offset the growth in demand,” writes CMHC. “Moreover, access to affordable supply remains a challenge for low- and middle-income renter households . For instance, units affordable to these households had the lowest vacancy rates in the GTA.” “Rent increases for most units that didn’t turn over were limited to the provincial increase guideline,” notes the report, which was 1.2% in 2022.
“Every year, we get feedback from the industry and stakeholders in terms of what the important indicators are. This is such an instance where turnover is a key indicator, and we wanted to include that in the survey,” she says.
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