The removal of GST on rental builds is a welcome step as two agencies reported average rents across Canada hit record highs in August.
Zumper.com which also offers a rent tracking service for Canada posted similar increases with a one-bedroom at around $1,750 and two-bedroom at $2,150, according to its data.
A Rentals.ca comparison of two-bedroom dwellings between Hamilton and Toronto show the steel city is about $1,100 cheaper a month. Both numbers outpaced the rent trend in all property types last month in Canada, which was up 10 per cent.Despite Canada’s municipalities having the highest rental apartment construction completions in the past 12 months since the 70s, rent growth was still strong.
The outlet says the strongest month-over-month rent growth among Canada’s largest cities was in Ottawa and Edmonton with the average asking rents for purpose-built and condominium rentals averaging $2,226 and $1,438, respectively.
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