Toronto Multifamily Market Report

Surging supply bringing some balance back to market. Toronto’s purpose-built rental stock expanded by a record 2.8 per cent last year. At the same time, an elevated number of for-owned condominiums also came to market, with 45 per cent of these units being offered for lease. These factors led to a significant influx of rental supply, providing greater choice for renters. As elevated deliveries in both market segments are poised to continue this year, a further softening in performance metrics is expected. Nevertheless, with fundamentals easing and cost pressures mounting, construction starts have begun trending down, likely tempering supply-side risks over the long term.