The rent prices in real estate in Toronto, in the Ontario region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in Toronto has had a strong fall during the last 6 months. In August, the average price per sq.feet was $6.98. In the following month the price per sq.feet fell considerably to $3.3. The price for the following two months in (October, November) had a considerable fall of 66 with regard to the previous two months. The price per sq.feet has had a considerable fall of 77 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $4.26 to $3.28 during December, and January.
When referring to the price in Toronto (cities), this has risen in the last 6 months. The rent price in August is $2,411, rising in September till $2,614. In the following two months the average price has hardly changed with regard to the previous two months from $2,512.5 to $2,503. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of $2,507.75 and $2,524 between December and January.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of $2,432 they are 7 % more affordable than the average price for Toronto . The properties with the highest average price have 4 bedrooms, Their price is 111 % more expensive than the average. After that we have properties with 3 bedrooms priced at $3,838.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $2.53 / sq.feet, with an average $3.16 / sq.feet price in Toronto. The properties with the most expensive average prices have 1 bedroom. They are 16 % more expensive than the average followed by properties with 2 bedrooms with a price at $3.38 / sq.feet.
The graph displaying the average rent prices displays the property type "Commercial" as the most affordable one. At an cost of $2,432 it is 19 % more affordable than the average price in Toronto. "House" is seen as the second most affordable property type. The most expensive property type is "Office" followed by "Condo". At a price of $3,103 it is 42 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Commercial" at an average price of $2.6 / sq.feet followed by "Condo" priced at $3.07 / sq.feet. "Townhouse" is the most expensive type of property with a $41 / sq.feet value followed by "Apartment" with an average price of $3.35 / sq.feet.