Quote:
Originally Posted by drpgq
Hamilton available 1 bedrooms up to $1020 (up 7.4% year on year) and 2 bedrooms up to $1250 (up 13.6% year on year). Toronto 1 bedrooms were up to $1940 (15.5% year on year) so that differential is even bigger. Too bad they don't have any Burlington or Oakville numbers.
Canada’s Largest Cities See Big Spikes In Rental Rates
http://www.huffingtonpost.ca/2017/10...es_a_23250150/
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They actually do have Burlington numbers. Headline writers lazily treat City as equivalent to CMA, which it is obviously not. And even within markets there are anomalies.
Private Apartment Average Rents, Average % Increase, Oct 2017 vs Oct 2016
West End 1.1% (to $1,003)
Downtown Core 2.6% (to $937)
Central 6.6% (to $919)
Central East 3.1% (to $793)
East End 5.9% (to $1,009)
Mountain 9.5% (to $930)
Wards 1-8 4.9% (to $934)
Wards 9-10 + Grimsby 2.6% (to $874)
Wards 11-15 5.2% (to $1,055)
Burlington 6.9% (to $1,351)
Hamilton CMA 5.5% (to $1,020)
As of Oct 2017, average rents for 1BR units in Hamilton were almost all below $900. Burlington's average 1BR rent was $1,244, a 7.1% YOY increase. Across the Hamilton CMA, average 1BR rents increased 4.1% YOY to $905 ($843 in Wards 1-8, a 4.1% bump).
As of Oct 2017, average rents for 2BR units in Hamilton were almost all below $1,100. Burlington's average 2BR rent was $1,366, a 5.6% YOY increase. Across the Hamilton CMA, average 2BR rents increased 6.4% YOY to $1,103 ($1,026 in Wards 1-8, a 6.7% bump).
Fun fact: Downtown Hamilton contains almost a quarter of all apartment units in the entire Hamilton CMA, and over 30% of the CMA's 1BR units.
Source:
CMHC Hamilton CMA Rental Market Report
Oakville’s data is covered in the
CMHC GTA Rental Market Report:
Private Apartment Average Rents, Average % Increase, Oct 2017 vs Oct 2016
Batchelor 0.7% (to $984)
1BR 3.5% (to $1,257)
2BR 2.3% (to $1,456)
3BR+ 0.1% (to $1,737)
Total 1.1% (to $1,394)