GTA Apartment Report Now Available

Our Q3 apartment report is now live. Download the report inside.

October 13th, 2023

Read Time: 2 minutes

Spooky stats to share this Friday the 13th.

Today we release our Q3 report for the GTA multifamily market (download below).

Sales volume is down 85.4% YoY. Needless to say, interest rates are having an effect on our multifamily market.

Four takeaways for you to chew on:

(did someone forward you this email? Sign up [here](http://www.onmultifamily.com)).

1. Toronto is Extreme

Value-add properties in Toronto have been materially impacted by the combination of rising rates and slowing turnover.

It's tough to buy a 3 cap at 5% financing when you can't increase rents.

Our other Ontario markets are fairing a little better.

2. Volatility in Rates

It's not the increase in rates - it's the volatility.

Rates are jumping and falling 25 bps a day.

Very challenging for buyers to waive conditions without a grasp of where their financing will land.

Once rates stabilize - you can anticipate more activity.

[

](https://mcusercontent.com/87232bcc93f1dd394870ffcbd/files/c6b2e6f7-6ad7-75c2-3672-c06d64522897/Colliers_GTA_Multifamily_Market_Report_Q3_2023_2_.pdf)

[Download Report](https://mcusercontent.com/87232bcc93f1dd394870ffcbd/files/c6b2e6f7-6ad7-75c2-3672-c06d64522897/Colliers_GTA_Multifamily_Market_Report_Q3_2023_2_.pdf)

3. Q4 is always a Monster

For a number of reasons - yearends, bonuses, taxes etc. Q4 is consistently a big quarter.

We're predicting a slight reversion to the mean over the next few months.

4. Adversity is a Terrible Thing to Waste

Whether on the buy or sell side (or a broker) - now is the time.

Everyone is asleep and pricing is unclear.

This is the time to act.

(If you followed me on Linkedin, you'd have seen this earlier [follow here](https://ca.linkedin.com/in/dayma))

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