Canadian rent growth slowed slightly last month, but rental market experts are attributing at least some of that moderation to “seasonal factors.” In Toronto, however, the market continues to soften, with rents seeing a year-over-year dip for the first time since August 2021.
In Toronto , however, the market continues to soften, with rents seeing a year-over-year dip for the first time since August 2021. Canadian rent growth slowed slightly last month, but rental market experts are attributing at least some of that moderation to “ seasonal factors .” From Rentals.ca and Urbanation, average asking rent in Canada hit $2,178 in October, marking a record high for the sixth straight month. However, that figure is up just 1.4% from the month prior.
That same month-over-month metric came in at 1.5% in September and 1.8% in August. Compared to October 2022, the national average was up 9.9% — but again, the annual pace of growth has slowed slightly from 11% in September. Even so, says the report, last month’s year-over-year rise represents the “second fastest annual increase of the past seven months.” Even more notably, the report points out that Canadian tenants are now seeing their rents rise, on average, by 8.8% or $175 each month. That average is based on data from the past six months
Canadian Rent Growth Toronto Market Soften Year-Over-Year Dip Record High Rental Market Seasonal Factors
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Péladeau to deliver speech at Canadian Club of Toronto on Nov. 14The Hill Times
Read more »
Canadian women reach Billie Jean King Cup final for the first time everSEVILLE, Spain — Canada has reached the final of the Billie Jean King Cup for the first time.
Read more »
Canadian women reach Billie Jean King Cup final for the first time everSEVILLE, Spain — Canada has reached the final of the Billie Jean King Cup for the first time.
Read more »
Canadian women reach Billie Jean King Cup final for the first time everSEVILLE, Spain — Canada has reached the final of the Billie Jean King Cup for the first time.
Read more »
Canadian Soldiers and Nurses: Bravery and Dedication Amid WarsUnited by the common bond of amputation, amputees from the First World War, along with those from the Second World War and Korean War, were instrumental in pushing for advancements in prosthetic technology.
Read more »