Rents dropping across Canada, but still above pre-COVID rates
CBC Canada · 8 days ago
CBC Canada
8 days ago
New Statistics Canada figures show rents are dropping in some of Canada’s biggest cities, but are still more expensive than the pre-pandemic levels. With more housing stock available, some landlords are offering financial incentives to woo tenants.
BreakdownGenerated by LeadStory AI
- Vancouver remains the most expensive city for renters, with average two-bedroom rents over $3,100.
- Rents in Vancouver, Calgary, Toronto, and Halifax have dropped 6-8% compared to the previous year. 27s
- The rent decline is due to increased rental supply and reduced demand, including fewer international students. 42s
- Landlords are offering incentives such as free rent or gift cards to attract tenants. 1m 10s
- Despite recent drops, rents remain much higher than pre-pandemic, with Montreal up 71% since 2019. 1m 23s