US EditionRents are falling in Calgary, Toronto, Vancouver and Halifax as supply swells, says CMHC
CANADA, JUL 8 – Advertised rents dropped up to 8% in some cities due to higher supply and slower immigration while rents for occupied units rose, worsening affordability, CMHC reports.
- Canada Mortgage and Housing Corporation’s mid-year update shows eased advertised rents in major cities, yet many tenants still do not experience relief in affordability.
- Eased rents resulted from increased supply driven by the Apartment Construction Loan Program and mortgage insurance, amid low immigration and sluggish job markets, boosting vacancy rates.
- In Q1 2025, advertised rents declined in major markets, with Toronto down 1.7% and Halifax dropping 8.3%, highlighting the regional impact of increased supply and slower immigration.
- Despite lower asking rents, occupied unit rents and rent-to-income ratios in Vancouver and Toronto continue rising, worsening affordability for tenants since 2020.
- CMHC predicts vacancy rates will increase in major cities, with some landlords potentially lowering rents to remain competitive.
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Higher supply leading to lower advertised rents in Halifax, new report says
A new report from the Canada Mortgage and Housing Corporation finds advertised rental prices have gone down in the Halifax area, but prices for older buildings are quickly closing the gap with newer builds. “Rental supply has been rising, shown by rapid growth in the number of listings and newly completed structures,” reads CMHC’s mid-year […]
·Toronto, Canada
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Total News Sources17
Leaning Left2Leaning Right3Center2Last UpdatedBias Distribution43% Right
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- 43% of the sources lean Right
43% Right
L 29%
C 29%
R 43%
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