Published • loading... • Updated
Average asking rents fall 4.8% in August as trade war adds fresh uncertainty: report
Urbanation said trade-war uncertainty could slow demand and raise construction costs as average asking rents fell for the 23rd straight month.
- Average asking prices for rental units fell 4.8 per cent to $2,035 in August, marking the steepest year-over-year decline since March, according to a report by Urbanation and Rentals.
- Purpose-Built apartment rents fell 3.3 per cent year-over-year to an average of $2,038, while condominium apartment rents decreased 7.7 per cent to $2,050, reflecting divergent market segments.
- Monthly rents remained essentially flat, down 0.1 per cent from July, extending a streak of year-over-year declines to 23 consecutive months with prices down seven per cent since 2024.
- Urbanation president Shaun Hildebrand noted that lower employment and consumer confidence could dampen near-term demand, potentially worsening the current decline in asking prices.
- Trade war escalation between Canada and the United States creates new market uncertainty, which Hildebrand warns could threaten supply through higher construction costs.
Insights by Ground AI
13 Articles
13 Articles
Coverage Details
Total News Sources13
Leaning Left8Leaning Right0Center4Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
Factuality
To view factuality data please Upgrade to Premium
