British Columbia at $2,590 for all property types. That’s up 0.6% from a month ago and a 19% jump since last July.
British Columbia at $2,590 for all property types. That’s up 0.6% from a month ago and a 19% jump since last July.
Next up was Ontario, with an average rent of $2,332, up 3.1% month-over-month and 15.2% since last year.
Next up was Ontario, with an average rent of $2,332, up 3.1% month-over-month and 15.2% since last year.
Of the seven provinces’ surveys, Manitoba was the only one that saw rent prices essentially unchanged at $1,377.
Of the seven provinces’ surveys, Manitoba was the only one that saw rent prices essentially unchanged at $1,377.
At the municipal level, the following are the cities that have seen the largest year-over-year rent increases so far this year:
At the municipal level, the following are the cities that have seen the largest year-over-year rent increases so far this year:
Victoria: $2,667 (+27%)
Hamilton: $2,097 (+26%)
Kitchener: $2,108 (+25%)
Burnaby: $2,680 (+24%)
Toronto: $2,691 (+24%)
The report concludes that rents are facing upward pressure due to a combination of rising interest rates and more people returning back to the office, which has increased rental costs in the larger cities.
The report concludes that rents are facing upward pressure due to a combination of rising interest rates and more people returning back to the office, which has increased rental costs in the larger cities.