Average asking rents in Canada decreased by 1.2% year-over-year in October 2023, marking the first national decline in over three years, particularly impacting major urban centers like Toronto, Vancouver, Calgary, and Montreal. This shift is attributed to a reversal of key drivers of rent growth, such as a strengthening economy and rising population, with expectations for the trend to continue as apartment completions reach record highs. While provinces like B.C. and Ontario saw significant rent decreases, Saskatchewan experienced the highest growth at 17.1%, with varying rent changes across different cities and apartment types reported in the study.
Full Article
Loading PerspectiveSplit analysis...
