DAILY HIVE: Average rent in Canada hit a new record high in July

 

The rising cost of living in Canada won’t stop and the average rent across the country is the latest to see a spike.

 

According to the latest report from Rentals.ca, the average asking rent in Canada reached a new record high of $2,078 in July. Asking rent is the price listed by the landlord before negotiations or discounts.

 

That’s a 1.8% increase in rent prices over June, which represents the fastest month-0ver-month growth in the past eight months, reads the report. On top of that, rent has increased 8.9% annually, which is the fastest pace of growth over the past three months.

 

To put it into perspective, Rentals.ca compared this to prices in July 2021 and found that average asking rents in Canada have risen by 21%, or by $354 per month ...

 

 

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