2024 saw average rents fall for the first time since the pandemic, report says

2024 saw average rents fall for the first time since the pandemic, report says

Canada saw its first annual rent decrease since the pandemic, with Toronto rents falling 7.1%. The national average dropped 3.2% to $2,109, though rents remain 16.8% higher than five years

Average Asking Rents Declined to 17-month Low Across Canada at End of Year: Report

Average asking rents fell nationally to $2,109 in December on a year-over-year basis, marking a 17-month low, according to a new report. A monthly report from Rentals.ca and Urbanation says average asking rents across Canada were down 3.2 percent from the same month last year, as December marked the fifth consecutive month of declines. The report says the decline in average asking rent prices last year followed growth of 8.6 per cent in 2023 and…

Average asking rents hit a 17-month low across Canada in December

Average asking rents fell nationally to $2,109 in December on a year-over-year basis, marking a 17-month low, according to a new report.

Apartment rents drop, first time since COVID

The average rent for an apartment in Canada dropped 3.2 per cent in 2024, the first such decline since the onset of the pandemic in 2020.

“A Steepening Decline”: Average Canadian Rent Sinks To 17-Month Low In December

After a historically sluggish year, major Canadian rental markets ended 2024 on a cool note. According to a report released Thursday from Rentals.ca and Urbanation, the average asking rent across all property types was $2,109 in December, representing a year-over-year decline of 3.2% and 17-month low for the metric (on the heels of a 15-month low in November).The decline in the national average is especially jarring when you consider that rents …

Rents drop for first time in five years

The average rent for an apartment in Canada dropped 3.2 per cent in 2024, the first such decline since the onset of the pandemic in 2020.