GTA Condo & Rental in 2023 with Shaun Hildebrand of Urbanation

Today we are welcoming back Shaun Hildebrand, President of Urbanation, for his fourth appearance on the podcast. His last time on the show was in June 2020, which was a starkly different time for real estate compared with where we are now in early 2023.

After getting an update on Urbanation’s expansion, Shaun explains what the condo market looks like in the GTA and how we can expect to see it grow. He also talks about the number of assignments happening right now and the impact of condos being rented by a new demographic.

Topics covered include:

• The slowdown that was seen in the condo market in 2022.
• Why Shaun is concerned about the effects down the road from condos being delayed.
• What is driving assignments in the market.
• The rental market and how strong it has been for investors, particularly with rent increases.
• Markets that are getting interest from investors that normally wouldn’t.
• Toronto seeing its largest increase in rent ever, but why that stat can be misleading.
• The demographic that is entering the rental market over the past few years.
• What Shaun predicts is the ceiling for rental growth per year for the foreseeable future.
• Concerns that Shaun has about factors that could encourage rent control.
• The impact of condos representing so much of the new rental supply in Toronto.
• Why Shaun believes the market is much more resilient than the popular narrative often suggests.

More about our guest….

Shaun leads the team at Urbanation, setting the research agenda and guiding the analytics that form the company’s market insights. He has acted as a key spokesperson for the industry for several years, providing regular commentary to the media, delivering presentations at numerous events and preparing research and forecast reports to a wide variety of stakeholders. Shaun has a Master’s Degree in Economics from Carleton University, and prior to joining Urbanation he managed the GTA housing market analysis team for the Canada Mortgage and Housing Corporation (CMHC).

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