THE CAUSE OF INFLATION
Average rent tops $2,000 in Canada: ReportAuthor of the article:Kevin Connor
Published Dec 14, 2022
Published Dec 14, 2022
The Toronto skyline
Monthly rents are now over $2,000 in Canada and renters can expect prices to continue to increase, according to Rentals.ca and Urbanation.
Toronto finished second on the list of 35 cities for average monthly rent in November.
In Toronto, the average for a one-bedroom was at $2,532 and the average monthly rent for a two-bedroom was at $3,347.
“Rents in Canada are rising at an exceptionally high speed, which is having a profound effect on housing affordability as interest rates continue to rise. With the most expensive cities experiencing very low supply and the fastest rates of rent increase, regions with high population growth are seeing demand shift into more affordable areas,” said Shaun Hildebrand, president of Urbanation.
Oakville was fourth on the list for average monthly rent in November for a one-bedroom at $2,156 and for average monthly rent for a two-bedroom at $2,732.
Year over year, average monthly rent in November for a one-bedroom in Oakville was up 12.9% and up 17.7% for a two-bedroom.
Burlington finished fifth on the list of 35 cities for average monthly rent in November for a one-bedroom at $2,155 and 10th for average monthly rent for a two-bedroom at $2,541.
Year over year, average monthly rent in November for a one-bedroom in Burlington was up 17.9% and up 11.7% for a two-bedroom.
Mississauga came in sixth on the list for average monthly rent in November for a one-bedroom at $2,148 and eighth for average monthly rent for a two-bedroom at $2,555.
Monthly rents are now over $2,000 in Canada and renters can expect prices to continue to increase, according to Rentals.ca and Urbanation.
Toronto finished second on the list of 35 cities for average monthly rent in November.
In Toronto, the average for a one-bedroom was at $2,532 and the average monthly rent for a two-bedroom was at $3,347.
“Rents in Canada are rising at an exceptionally high speed, which is having a profound effect on housing affordability as interest rates continue to rise. With the most expensive cities experiencing very low supply and the fastest rates of rent increase, regions with high population growth are seeing demand shift into more affordable areas,” said Shaun Hildebrand, president of Urbanation.
Oakville was fourth on the list for average monthly rent in November for a one-bedroom at $2,156 and for average monthly rent for a two-bedroom at $2,732.
Year over year, average monthly rent in November for a one-bedroom in Oakville was up 12.9% and up 17.7% for a two-bedroom.
Burlington finished fifth on the list of 35 cities for average monthly rent in November for a one-bedroom at $2,155 and 10th for average monthly rent for a two-bedroom at $2,541.
Year over year, average monthly rent in November for a one-bedroom in Burlington was up 17.9% and up 11.7% for a two-bedroom.
Mississauga came in sixth on the list for average monthly rent in November for a one-bedroom at $2,148 and eighth for average monthly rent for a two-bedroom at $2,555.
Housing affordability top concern: Report
Year over year, average monthly rent in November for a one-bedroom in Mississauga was up 19.4% and up 18.5% for a two-bedroom.
North York finished seventh on the list of 35 cities for average monthly rent in November for a one-bedroom at $2,126 and for average monthly rent for a two-bedroom at $2,644.
Year over year, average monthly rent in November for a one-bedroom in North York was up 23.9% and up 24.6% for a two-bedroom.
Brampton came in 10th on the list for average monthly rent in November for a one-bedroom at $2,061 and 11th for average monthly rent for a two-bedroom at $2,469.
No comments:
Post a Comment