this post was submitted on 05 Nov 2023
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Average rental prices in Canada surge to records highs in October 2023: report (www.ctvnews.ca)
submitted 1 year ago by girlfreddy@lemmy.world to c/canada@lemmy.ca
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According to Rentals.ca and real estate research firm Urbanation, the Canadian market continued its upward trajectory with data suggesting a monthly increase of 1.5 per cent from August, and an annual surge of 11.1 per cent.

Experiencing double-digit year-over-year growth, the annual rate of rent inflation surged to its highest point in nine months, stated the report.

The report’s metrics are based on new listings, not what existing tenants are paying per month.

In terms of rental types, one-bedroom units recorded the fastest annual growth in asking rents, soaring by 15.5 per cent, reaching an average of $1,905.

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[–] girlfreddy@lemmy.world 2 points 1 year ago (1 children)

Jayzuz. 😡

[–] FunderPants@lemmy.ca 7 points 1 year ago

Indeed, and landlords in Parliament are not a problem per se. Having them at such a disproportionate rate versus the general population absolutely is.