GTA rents in Q2 2022 rose at their fastest pace on record, with smaller units experiencing the strongest growth rates since the pandemic.

GTA rents continued to trend up in March 2022, with Bullpen Research & Consulting and TorontoRentals.com reporting an increase of 10 per cent versus a year ago. 

October marked the first month since March 2020 that average GTA rents increased year over year, according to new data from Rentals.ca and Bullpen Research & Consulting.

GTA rents continue to decline, with condo rentals in downtown Toronto seeing the most significant drop in rates at 16 per cent.

Average rent in the GTA has declined for the seventh straight month in June to $2,129, according to recent data from TorontoRentals.com and Bullpen Research & Consulting.