Average rents across Canada rose 11.8% YOY in October, more than double the annual hourly wage increase of employees at 5.6%, according to a report from Statistics Canada.
Rents are now averaging $1,976 for all property types in Canada.
In the latest National Rent Report from Rentals.ca, Urbanation, which tracks rentals, reported that unprecedented rent growth is actually getting hotter with each interest rate increase.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
