Yesterday Urbanation released its Q2-2018 rental report for the Greater Toronto Area. It tracks both purpose-built rentals and condominium rentals, the latter being condominium units that are listed for rent on MLS. The average condo rent, for all unit types across the GTA, is up 11.2% year-over-year to a face rent of $2,302 per month.

Here is a chart from the Globe and Mail:

The former City of Toronto, which includes downtown, is actually up 13.5%:

But here are the stats that I really wanted to draw your attention to today (figures from the Globe).

According to Urbanation, there were some 384,000 condo apartments in the Greater Toronto Area in 2017 and nearly 1/3 of them were rented out. Given that the Canada Mortgage and Housing Corporation pegs the total number of rental apartments in the GTA at approximately 311,596, condo apartments represent about 40% of all our rental housing stock.

So condo buildings are actually doing quite a bit of heavy lifting when it comes to providing rental housing in this region.

This past weekend was a milestone weekend for Architect This City. The number of email subscribers surpassed 100 people for the first time. Now, that may not seem like a lot of people, but I think it is. I’m incredibly proud of and grateful for each and every one of you who subscribe to ATC. If I had all of your photos, I would make a collage just like the one above and call it “the first 100.”

The reason I think 100 people is a lot is because I think of an email inbox as an incredibly personal thing. We live in an age of too much information and our inboxes certainly reflect that. So for somebody to invite and accept the ATC email into their inbox every morning (only a few people subscribe weekly), I consider that to be a big deal. Thank you for that. It really does mean a lot to me.

I try to ensure that I’m always delivering value to you, which is why I ask for your industry on the full subscription page. I want to know where you’re coming from so that I can do my best to write content that will help you professionally, and perhaps even in life. But if you signed up elsewhere, you may have only entered your email. If you’d like to add your industry, click on “update subscription preferences” at the bottom of one of my emails.

So far, I know that many of you are architects, city planners, real estate developers, brokers, policy makers, finance people, marketers, and entrepreneurs–to name only a few.

If you have any specific feedback or have a topic you’d like to see covered on ATC, please feel free to email me or reply to this email (if you’re already a subscriber). I keep a queue of draft posts and I do eventually get to them when the timing is right. Finally, if you feel that somebody within your network would also get value out of what we’re all doing here at ATC, I would really appreciate it if you forwarded this email or shared this post.

Happy Monday :)

Image: Flickr

Yesterday Urbanation released its Q2-2018 rental report for the Greater Toronto Area. It tracks both purpose-built rentals and condominium rentals, the latter being condominium units that are listed for rent on MLS. The average condo rent, for all unit types across the GTA, is up 11.2% year-over-year to a face rent of $2,302 per month.

Here is a chart from the Globe and Mail:

The former City of Toronto, which includes downtown, is actually up 13.5%:

But here are the stats that I really wanted to draw your attention to today (figures from the Globe).

According to Urbanation, there were some 384,000 condo apartments in the Greater Toronto Area in 2017 and nearly 1/3 of them were rented out. Given that the Canada Mortgage and Housing Corporation pegs the total number of rental apartments in the GTA at approximately 311,596, condo apartments represent about 40% of all our rental housing stock.

So condo buildings are actually doing quite a bit of heavy lifting when it comes to providing rental housing in this region.

This past weekend was a milestone weekend for Architect This City. The number of email subscribers surpassed 100 people for the first time. Now, that may not seem like a lot of people, but I think it is. I’m incredibly proud of and grateful for each and every one of you who subscribe to ATC. If I had all of your photos, I would make a collage just like the one above and call it “the first 100.”

The reason I think 100 people is a lot is because I think of an email inbox as an incredibly personal thing. We live in an age of too much information and our inboxes certainly reflect that. So for somebody to invite and accept the ATC email into their inbox every morning (only a few people subscribe weekly), I consider that to be a big deal. Thank you for that. It really does mean a lot to me.

I try to ensure that I’m always delivering value to you, which is why I ask for your industry on the full subscription page. I want to know where you’re coming from so that I can do my best to write content that will help you professionally, and perhaps even in life. But if you signed up elsewhere, you may have only entered your email. If you’d like to add your industry, click on “update subscription preferences” at the bottom of one of my emails.

So far, I know that many of you are architects, city planners, real estate developers, brokers, policy makers, finance people, marketers, and entrepreneurs–to name only a few.

If you have any specific feedback or have a topic you’d like to see covered on ATC, please feel free to email me or reply to this email (if you’re already a subscriber). I keep a queue of draft posts and I do eventually get to them when the timing is right. Finally, if you feel that somebody within your network would also get value out of what we’re all doing here at ATC, I would really appreciate it if you forwarded this email or shared this post.

Happy Monday :)

Image: Flickr