Toronto tenants are facing a tighter squeeze at the first of the month and a tougher hunt for apartments in the wake of Ontario's new Fair Housing plan, which expands rent controls. The average rent on apartments listed on the Multiple Listing Service (MLS) in the second quarter of the year, rose 11 per cent year-over-year, past the $2,000-a-month mark, according to a report from condo research company Urbanation. President Shaun Hildebrand links the increase to the government's new housing policies announced April 20. Those include extending rent controls to buildings occupied after 1991 and a foreign buyers’ tax that is believed to be a key psychological factor in the subsequent cooling of the housing market. If they're not buying, they're renting," said Hildebrand.

Source: thestar July 07, 2017 14:26 UTC