The city continues to see the most expensive rent in Canada.
If you were looking for an apartment in Vancouver in June, you might have noticed that the prices have started to climb.
Vancouver continues to record the highest rent in Canada for one and two bedroom apartments as well as higher prices for both room types this month compared to last.
Realized by Padmapper.ca, June 2021 report analyzes rental data from hundreds of thousands of active listings across the country. From there, the listings are aggregated each month to calculate the median asking rents for the 24 most populous metropolitan areas.
The report’s authors note that nearly two-thirds of the Canadian cities in its report have seen a further increase in rents: âThe recovery from the rental market trends of 2020 appears to have started as there is demand that is currently pushing up prices. . “
With the vaccination rate rising as fall approaches, the report notes that Canadian renters may start looking for their next apartment again.
And for the second month in a row, prices for one- and two-bedroom rentals in Vancouver increased. A one-bedroom city apartment costs an average of $ 1,950, which is a 1% increase this month from last year. It should be noted, however, that prices for one-bedroom rentals are down seven percent year over year. Two-bedroom rentals also saw a price increase this month, climbing 2.2% to $ 2,730, but down 9% this year.
Toronto also saw an increase in both types of bedrooms. A one-bedroom apartment in Canada’s most populous city climbed 0.6% to $ 1,800 this month; Prices for two-bedroom apartments rose 0.4% to $ 2,320.
Rent across Canada
Burnaby is now the third highest market in Canada, although prices for one-bedroom apartments have remained stable at $ 1,700; prices for two-bedroom apartments rose 0.9% to $ 2,270.
Barrie, Ont., Fell to the fourth most expensive market in the country with one-bedroom rent falling 4.6 percent – the largest monthly drop of any city in the country – to 1,650 $. In contrast, two-bedroom rentals increased 2.8% to $ 1,830.
Victoria remains the fifth most expensive city in Canada. That said, the capital of British Columbia saw one-bedroom rent climb 0.6% to $ 1,600, while two-bedroom rent remained stable at $ 2,070.
The report is based on all data available in the month prior to publication. Data reported does not include short-term announcements or Airbnb.