Saskatchewan rose to the top of national rankings for growth of annual rental costs as rents increased 18 per cent higher on average compared with the same month a year earlier
Double-digit rent growth in the Prairies has spilled beyond Alberta . The new frontier of Canada ’s rental frenzy is now Saskatchewan.
Giacomo Ladas, communications manager at Rentals.ca, said tenants migrating to Saskatchewan have increased demand for rentals and boosted prices. Still, the provinces remains – for now, at least – one of the last few affordable areas of the country. In both cities, international arrivals have more than offset the outflow of residents leaving for other provinces, Canada Mortgage and Housing Corp. said in its latest rental report. Among the newcomers were more than 6,000 Ukrainians displaced by Russia’s invasion of their home country, according to the Ukrainian Canadian Congress.
Also helping to push up rents in both Saskatoon and Regina are rising full-time employment and wages, according to the CMHC, Canada’s federal housing agency.
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