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The housing and rental market in the Greater Toronto Area has been a nightmare for the last few years, with spaces of all kinds being rented out at exorbitant rates.
The latest horror once again comes out of Brampton,
Tag: rent your home
The Latest CoreLogic’s Rental Market Update
Key takeaways
Nationally rents were up 8.3% in 2023.
Growth in unit rents (10.2%) has outpaced the rise in house rents (7.5%) this year.
We can also see some significant differences across the broad regions of the country.
Rental growth across the combined regional areas of Australia slowed to 4.3% in 2023, the smallest calendar year rise since before the pandemic.
Considering we are yet to see any material response in rental supply, growth in rents is likely to remain above average in 2024.
Nationally, rents were up 8.3% in 2023a reduction from the 9.5% rise recorded last year
Brampton home renting out multiple rooms, people living in car
Victorian investors flee amid harsh regulations, leaving the rental market worse for wear
- Harsh regulations prompt Victorian landlords to sell, leaving the rental market strained.
- Investors struggling through cost-of-living crisis, interest rate hikes, and high taxes.
- Influx of sales may mean more options for first-home buyers.
Property investors have left Victoria en masse, pushed out by the increasingly harsh regulatory environment, leaving the already constrained rental market worse for wear, according to real estate agency Little Real Estate.
Investors at their wit’s end
Little Real Estate reported a surge in Victorian sales listings as investors exited the market, encumbered by the controversial COVID debt levy, further land taxes, and escalating maintenance costs.
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