Published • loading... • Updated
Weak economic backdrop could keep rent prices soft this summer: report
- Canada's summer rental market may slow as average asking rents in May dropped about $100 compared to last year, indicating softer prices.
- Rentals.ca and Urbanation reported a 4.7% year-over-year decrease in May's average asking rent to $2,029, marking the 20th consecutive annual decline.
- Month-over-Month rent prices rose only 0.1% from April, much lower than the typical 1.3% seasonal increase in previous years.
- Urbanation president Shaun Hildebrand attributes softer rent increases to a weak economy, a shrinking population, and record apartment completions this summer.
Insights by Ground AI
11 Articles
11 Articles
The Toronto Star+9 Reposted by 9 other sources
Weak economic backdrop could keep rent prices soft this summer: report
TORONTO - A new report says Canada could be poised for a slower-than-usual summer rental market as average asking rents for May were down approximately $100 from a year earlier.
·Toronto, Canada
Read Full Article
'Weak economic backdrop' expected to bring good news for Canadian renters: report
On the back of 20 consecutive months of declining rent, a new report says the current weak economic situation is expected to continue to lower asking rental prices. The latest Rentals.ca and Urbanation rent report shows that the average asking price for rentals is down 7.9 per cent across the country from two years ago. “The Canadian rental market is heading into the peak summer season under a weak economic backdrop, a decreasing population, and…
·Victoria, Canada
Read Full ArticleCoverage Details
Total News Sources11
Leaning Left3Leaning Right0Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 43%
C 57%
Factuality
To view factuality data please Upgrade to Premium
