Average asking rents for all residential property types in July were up by 5.9 per cent compared with this time last year, a new report says.
Rents are up nationally, but there is some good news for renters — the rate of growth is the slowest it’s been in 31 months.
Toronto saw a monthly rent increase of 0.2 per cent, but a 4.6 per cent decrease compared with July 2023, bringing average rents to $2,719. Vancouver still has the highest average asking rent in the country across all property types at $3,101 per month. This is a 1.9 per cent increase from last month, but a 7.2 per cent annual decline.Among major cities, Edmonton saw the highest annual increase with a 14.3 per cent annual increase to $1,579, while Calgary’s rents grew by 3.7 per cent to $2,111.
Among the provinces, Saskatchewan saw the fastest-growing rents, with rents for purpose-built and condominium apartments increasing by 22.2 per cent year over year to $1,331 despite a monthly decline of $8.
Rent Prices Rental Market Renting Canada Economy Money
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.
Average Canadian rent tops $2,200 in July even as pace of growth slows: reportRents 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.
Read more »
Average Canadian rent tops $2,200 in July even as pace of growth slows: reportRents 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.
Read more »
Average asking rent in Canada up 7% from a year ago, even as price growth slowsNo vacancy sign in front of West End Vancouver apartment.
Read more »
Canada’s wildfire season close to 10-year average heading into summer peakOverall, this wildfire season is far less severe than the record-setting year in 2023
Read more »
Canada’s wildfire season close to 10-year average so far heading into peak summer monthsWhile this wildfire season has been less severe than 2023, the risk remains particularly high for B.C., Alberta, Yukon and the Northwest Territories
Read more »
Rent in Calgary climbs in June, but remains far from the highest in CanadaA new report suggests that while rental prices in Calgary climbed last month, they remain lower here than in many other Canadian cities.
Read more »