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Money Average rent for 2-bedroom apartment in Canada hits $989, up 2.7% in past year

09:06  07 december  2017
09:06  07 december  2017 Source:   cbc.ca

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The average monthly rent for a two - bedroom apartment in Canada last month was $ 989 , a rise of 2 . 7 per cent in the past 12 months.

Average rent for 2 - bedroom apartment in Canada hits $ 989 , up 2 . 7 % in past year . The annual rental market report from the Canada Mortgage and Housing Corporation shows a 3.2 per cent increase in the average rent in October, compared to 3 during the same period last year .

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The average monthly rent for a two-bedroom apartment in Canada last month was $989, a rise of 2.7 per cent in the past 12 months.

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Average rent for 2 - bedroom apartment in Canada hits $ 989 , up 2 . 7 % in past year . Could finding an affordable place to live be THE election issue of 2018?

In Vancouver, average rents were up 5.9 per cent at ,297, though a vacant one-bedroom condo can rent for in excess of ,700 a month. Average rent for 2 - bedroom apartment in Canada hits $ 989 , up 2 . 7 % in past year .

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The Canada Mortgage and Housing Corporation said in its annual report Tuesday that rents increased by twice the inflation rate this year, as booming demand for rental units pushed up prices, despite more of them being built.

Some of the highest rent increases were in British Columbia, where average rents in large urban centres such as Kelowna, Victoria and Vancouver increase by 8.6, 8.1 and 6.2 per cent, respectively.

Ontario rents also increased, mainly in and around the Toronto area.

Centres in Ontario with strong rent increases included Belleville (5.9 per cent), Oshawa (5.2 per cent), Hamilton (5.1 per cent), Barrie (4.6 per cent) and Toronto (4.2 per cent).

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Average rent for 2 - bedroom apartment in Canada hits $ 989 , up 2 . 7 % in past year . For two - bedroom units, an increased average rent of ,103 from ,037 represented a jump that was much higher than the jump for the provincial average .

Average rent for 2 - bedroom apartment in Canada hits $ 989 , up 2 . 7 % in past year . The average cost to rent an apartment in the Kitchener-Waterloo-Cambridge census metropolitan area is ,040 — for all sizes from bachelor to over three bedrooms.

Rents in B.C. and Ontario increased mainly because the vacancy rate declined in each of them, allowing landlords to be choosier about tenants, and to charge more.

That's not the case in Canada's oil-producing provinces, however, where high vacancy rates continue to put downward pressure on rents.

In Saskatoon and Edmonton, the average rent on a two-bedroom apartment declined by 1.3 per cent this year. In Calgary, average rents decreased by one per cent.

In dollar terms across the country, Vancouver is the most expensive rental market in Canada, with the average price for a two-bedroom going for $1,552. Toronto is next highest at $1,404 and Calgary at $1,247.

Rents were lowest in Trois-Rivières ($594), Saguenay ($605) and Sherbrooke ($631), all in Quebec.

Is rent control making Toronto’s vacancy squeeze worse? .
If developers were allowed to add 10 floors to every building proposal this year, there would be thousands of new rental units on the market in a short time, says Joseph Feldman, director of development for Camrost Felcorp. define("homepageFinanceIndices", ["c.deferred"], function () { var quotesInArticleFormCode = "PRMQAP"; var config = {}; config.indexdetailsurl = "/en-ca/money/indexdetails"; config.stockdetailsurl = "/en-ca/money/stockdetails"; config.funddetailsurl = "/en-ca/money/funddetails"; config.etfdetailsurl = "/en-ca/money/etfdetails"; config.

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