This week: Signs of life in the housing market, and the unexpected city that is the best for renters in the GTA. Plus, why some young condo owners have become accidental landlords, and one property worth a look.

Looking at our national city rent ranking for 2026, you might see a strong case to pack up your wagon and head to the Prairies. But you don’t need to make the journey west or even go far from Toronto to find pockets of more affordable rentals, according to the ranking by my colleague Mahima Singh.

Ajax topped our list of the GTA’s best cities for renters, and as Olivia Grandy reports, tenants there might find they have a bit more negotiating power over their rents. Though the city had only the second-lowest average asking rent ($2,317) of the 21 other cities in the region, including Toronto, it rose to the top of the ranking thanks to the higher supply, stability and livability. Still, Olivia wanted to point out one big caveat: just because rents are more affordable in some places doesn’t mean they’re actually affordable.

“The good news is that in some areas, prices have recently cooled,” Olivia told me, noting it’s not the case everywhere in the Toronto Metropolitan Census area. “But the industry sources I spoke to said they have seen a trend of renters holding increased bargaining power. In other words, renters haggling on price, move-in incentives or even perks like gift cards is back, especially for those looking for a condo lifestyle.” Read Olivia’s full story to see which GTA city had the lowest rent, and where the tenant-landlord power balance may be shifting most.

If you’ve been looking for signs of life in the housing market before you list your home, this week brought a hopeful update. In July, home sales rose slightly for the fourth straight month and the home price index rose incrementally by 0.1 per cent for the first time since November, 2024.

Neither figure is enough to say the downturn is looking up, but as Rachelle Younglai reports, analysts are welcoming the news. “To not announce a decline is significant,” Shaun Cathcart, the Canadian Real Estate Association’s senior economist, told Rachelle. At $658,000, the typical home price is still 20 per cent below the record high of $826,000 it reached in February, 2022, but Cathcart says it’s still a sign the market could be turning a corner.

Whether that’ll be the case remains to be seen, but with CREA forecasting more home sales in the second half of this year, Cathcart says prospective buyers and sellers should expect to see more for-sale signs after Labour Day. So read Rachelle’s deeper look at the numbers and keep your eyes peeled.

Rates shown are the lowest available for each term/type and category (insured vs. uninsured) as of market close on Thursday, August 20.

Owning a home isn’t always a good financial decision, and more young condo owners are learning that the hard way. Squeezed by changing plans, plummeting re-sale values and ballooning condo fees, they’re weathering the condo downturn doing something they never expected: renting out their units long-term.

But as Kelsey Rolfe reports, these accidental landlords are also finding the rental landscape has changed, and they’re often losing money. Francesca Parc and her partner are paying about $10,000 per year – in addition to rental income – to keep up with the condo they bought for $550,000 in 2022 an hour outside of Toronto. The commute wore them down, and they moved back to the city to rent from Parc’s parents, where they pay $2,000 per month. “Instead of a successful investment or a step onto the property ladder, this thing has turned into financial destruction for young people,” Ron Butler, a Toronto mortgage broker, told Kelsey.

While some find their dream home has turned into a financial nightmare, others have made peace with the situation. Jane Tsang broke up with her partner just after they closed on their Toronto one-bedroom in 2021 and couldn’t afford the mortgage on her own. So she kept living with her parents and leased out the condo, which costs about $800 more a month than the rent she charges. “I try not to look back in regret,” she said. “And I feel pretty confident [the market] will overall trend up.”