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Average national asking rents fell nearly 5% in April to $2,027: report
Purpose-built and condo rents also declined, while Vancouver led the national drop and April marked the 19th straight year-over-year decrease, the report said.
- Canada's average asking rents fell 4.7 per cent in April to $2,027, according to the latest National Rent Report from Rentals.ca and Urbanation, with Vancouver leading declines among major markets.
- April marked the 19th consecutive month of year-over-year rent declines, with British Columbia and Ontario seeing the steepest decreases at 5.9 per cent and 5.2 per cent respectively.
- In Vancouver, the average rent sits at $2,679, a 5.3 per cent dip compared to last year, while North Vancouver remains the country's most expensive municipality with two-bedroom units averaging $3,358.
- Urbanation president Shaun Hildebrand says improving affordability "should help bring renters into the market who were priced out in recent years," with average rents now down around $100 from a year ago.
- Rents have fallen back to levels seen three years ago, though prices rose 0.9 per cent month-over-month in April amid seasonal demand, while average unit sizes shrunk to 827 square feet.
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Average asking rents in Canada have fallen back to 2023 levels
Rents in Canada have fallen back to the same level they were at three years ago, according to the new report from Rentals.ca and Urbanation. But average rents are still 21.9 per cent higher than the pandemic-era low of April 2021.
·Canada
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Average rent demand in Canada fell back to levels similar to three years ago, with April marking the 19th consecutive decline from one year to the next.
·Montreal, Canada
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Winnipeg Free Press+7 Reposted by 7 other sources
Average national asking rents fell nearly 5% in April to $2,027: report
TORONTO - A new report says average asking rents in Canada have fallen back to similar levels from three years ago as April marked the 19th consecutive year-over-year drop.
·Winnipeg, Canada
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Total News Sources12
Leaning Left6Leaning Right0Center5Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
C 45%
Factuality
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