Toronto Real Estate Agents reported 5,673 Condo units leased, up 32 per cent from May 1, 2009- August 31, 2009.

This was an increase of 32 per cent from 4,286 leased from the same period last year.

As transactions increased the average rents fell in most categories.

At the end of August Toronto Realtors had 9,781 rental Condo Listings on the Toronto MLS system, a 51 per cent increase over the listings that appeared at the end of May-August 2008 period.

Central Area:

• 1,783 one-bedroom Condos leased on average $1,502
  
• 2,121 two-bedroom Condos leased on average $2,121

The ratio of rental transactions to available Condos is much lower than in 2008 meaning more properties are available causing average Condominium rents to moderate.

In Toronto we are now seeing more Condominium apartment completions and after registration, they become available for rent.