Data crunched by his organization and research firm Urbanation.ca shows average asking rents for newly-listed units in Canada increased 1.8 per cent between July and August and 9.6 per cent from a year earlier to reach a record high of $2,117 last month.
“If you want a basement suite or an apartment, you’re looking at minimum $1,200 and that doesn’t include any utilities or anything like that unless it’s a super rare listing,” Giesinger said.Calgary’s hot rental market drives renters to other parts of Alberta Newly-listed one-bedroom properties in Vancouver averaged $2,988 in August, up 13.1 per cent from a year earlier, while two-bedroom units hit $3,879, an almost 10 per cent increase year-over-year.
The public relations worker has been living in Mississauga, Ont., but felt it was time to find a home in downtown or midtown Toronto, closer to where she works. Despite the nudge down, Rishi Sondhi, an economist with TD Bank Group, said it has been a strong year for starts because the industry is responding to elevated prices by building at a robust pace.
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Hot rental market makes search 'stressful' for many — and it won't get better soonTORONTO — On the hunt for a rental home in Calgary over the last six weeks, Marissa Giesinger and her boyfriend trawled through listings morning, noon and night, only to find most come along with dozens of applications and a steep price tag.
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Hot rental market makes search 'stressful' for many — and it won't get better soonTORONTO — On the hunt for a rental home in Calgary over the last six weeks, Marissa Giesinger and her boyfriend trawled through listings morning, noon and night, only to find most come along with dozens of applications and a steep price tag. As an added difficulty, many landlords are unwelcoming to the couple's brood — dogs Kado and Rosco and a cat named Jester. 'We made the tough decision recently to house our dogs with someone else until we can find a place that's affordable and we can take bo
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Hot rental market makes search 'stressful' for many -- and it won't get better soonThe competitive rental market across the country is seeing multiple factors combine: high interest rates deter buyers and add to rental demand, still-high inflation is squeezing renter budgets, there's an undersupply of purpose-built rental units and population growth is fuelling demand.
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