Average asking rents in Canada reach record $2,202 in May, says new report

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Average asking rents in Canada reach record $2,202 in May, says new report
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A new report says the average asking rent for a home in Canada hit a record $2,202 in May, up 9.3 per cent compared with a year ago and 0.6 per cent from the...

A new report says the average asking rent for a home in Canada hit a record $2,202 in May, up 9.3 per cent compared with a year ago and 0.6 per cent from the previous month.

Overall, asking rents for purpose-built rental apartments in May increased 13.7 per cent compared with a year earlier to reach an average of $2,146.That was four times the rate of growth for condominium apartment rents, which averaged $2,312, up 3.4 per cent. Located near the boho-chic surf town of Santa Teresa, Magna Pacific consists of two sustainably built villas designed by a local architect.Bank of Canada's rate cut could spur housing demand as Toronto home sales fall in May

After listing his lavish Beverly Hills compound known as Villa Theos for a whopping $85 million, Jim Demetriades is now selling the house next door.When you think about the cost of living on the West Coast, "affordable" probably isn't the first thing that comes to mind -- and "safe" might not be either. But there are places on the West Coast... -- Toronto home prices fell for the first time in four months as buyers pulled back and listings piled up.

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