Rent for all property types was up $430 to $2,528 from $2,098 in August 2021. Read more.
Rent for all property types was up $430 to $2,528 from $2,098 in August 2021, further surpassing the pre-pandemic high of $2,461 recorded in 2019. The average is also now 28.2 per cent above the COVID low of $1,972 per month set last April.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
Rent inflation can largely be chalked up to the rising interest rate environment, “which has made owning a home more expensive and resulted in a swift decline in prices in the resale market,” the report said. With the Bank of Canada expected to continue to hike interest rates, demand for rental properties could persist.Article content
In the Toronto market, apartment rents jumped 20.1 per cent. The area with the highest average across all property types was the Bay Street Corridor, at $2,779.13.8 per cent from the second quarter, ahead of
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