According to new data from Urbanation, an increase in GTHA housing starts and completions over the past 12 months have led to higher vacancies.

As reported by Urbanation, GTA condominium rents rose by nearly 17 per cent in 2022 following decreases in 2021 and 2020.

Condo rents across the Greater Toronto Area have ballooned since last summer. The average cost of renting a small bachelor unit is now $1,829 per month.

Condo rents in the GTA rose by an average of 9.3 per cent in 2018, surpassing the 8.3 per cent growth recorded in 2017, according to Urbanation Inc.

According to Urbanation Inc., the number of condo units leased in Q4-2017 fell 11 per cent year-over-year as listings dropped by 16 per cent.