In this last month I have seen a unbeliveable turn of events in the area of Leases in Toronto. With a renewed confidence in Canada due to vaccine uptake – students and workers alike are flocking back to the city in ways we have not seen in over a year and a half.
Units are being picked up as soon as a few days on the market. And the really interesting thing here is that there are multiple offers on them, driving their eventual rental price higher. Now this wasn’t something that was aniticipated and if anything due to the exodus out of Toronto, lease prices had taken a hit and they were not expected to increase so soon.
This will be an interesting trend to watch, especially after Septempber, when most students have settled. I’ll be sure to keep you updated.