After the second most active Q1 of the last decade, the effects of COVID-19 brought transactional volume down in Q2. Properties that closed in the second quarter upheld trends seen pre-COVID:
- Average price per suite is $276,085 year-to-date – an increase of 8.1% YoY.
- Average cap rate is 3.41% year-to-date – 19 bps lower than this time last year.
- 2,754 suites have traded across the GTA year-to-date, a decrease of 17% from the same period last year.
- 67,090 purpose-built rental suites are proposed over 183 projects, + 53% from Q2 2019.
- There are 13,358 purpose-built rental suites under construction, a year-over-year increase of 21%.