OTTAWA — The rate at which Canadian rental prices are increasing should slow in the coming years as the government's plan to cut back immigration numbers takes hold, a new report from Desjardins says.
OTTAWA — The rate at which Canadian rental prices are increasing should slow in the coming years as the government's plan to cut back immigration numbers takes hold, a new report from Desjardins says.
Last month, the federal government announced plans to slash Canada's immigration targets by 20 per cent as the government faced increased pressure to address the cost and availability of housing. "Lowering the number of newcomers should halt or possibly even reverse Canada’s population growth, slowing demand for rental accommodation," the report said.
On the other hand, higher-than-anticipated population growth that are more in line with the Bank of Canada’s recent outlook wouldl put more sustained pressure on rent prices, the report said.
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