Rents are still rising in Canada but the year-over-year pace of growth has slowed, according to a new report. The data from Rentals.ca and Urbanation says asking rents for all residential property types averaged $2,201 in July, up 5.
Rents are still rising in Canada but the year-over-year pace of growth has slowed, according to a new report.
Rental rates saw downward pressure during the pandemic as population growth slowed and demand weakened, leaving the average to bottom at $1,685 in March 2021. Last month's average makes for a roughly 31 per cent rise since then. Quebec City, on the other hand, had a 21 per cent increase to $1,657, Halifax had an 18 per cent increase to $2,373, and prairie cities like Saskatoon, Edmonton and Regina also saw double-digit gains.
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