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Toronto’s Rental Market Takes a Hit | KT Confidential E103

On today’s podcast, episode #103, we discuss the current state of the rental market in Downtown Toronto.

With COVID still among us and putting a strain on our work lives and financial stability, we are seeing more and more individuals moving out of the city and into the GTA. The first area to see the effects of the shift is the condo market, specifically right downtown, where we are seeing a 15%-20% drop in overall rental prices. With people exiting the city, demand is growing in areas such as Kingston and Montreal along with the rental prices in those markets. If things continue this way we may even see an overall drop in prices throughout the downtown area leaving opportunities open for first time home buyers and investors alike in the near future.

Canadians are spending more money than ever from home thanks to online shopping, the local market is continuing to shift due to changes driven by COVID, and the cottage real estate market is holding strong with demand remaining high. All of that and more on today’s episode of KT Confidential – Real Estate Podcast.

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Adrian Trott
Ariel Kormendy
Heather Karloff
Steve Bruman
Chris Behie
Jennifer Singh
Steve Cecchetto

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The founders, Ariel Kormendy and Adrian Trott, started The Kormendy Trott Team, a real estate team based out of Halton region in Ontario, after both being in need of a change from their successful careers in the automotive industry and both experiencing the lack of service being provided in the real estate industry. They kicked off their careers in 2011 and quickly became a top-performing team in the country, ranking 17th of approximately 200 for Century 21 in 2017; as a team of just the two of them compared to much larger teams. They decided that they needed to take their team from being real estate agents in Milton to the rest of the GTA and beyond by expanding and servicing more areas. The team has since grown to have an administrative arm, media department and successful sales team operating a smooth running and successful business. Follow them on social for behind the scenes info, real estate tips, industry secrets and more.

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