Despite the strong growth in rental transactions, some industry watchers are pointing to weakening demand. A telltale sign is rental listings, which increased by 113.9 per cent over the third quarter in 2019.
These trends are in line with the broader shifts observed since the onset of COVID-19, namely, increasing demand for ground-oriented, larger-sized dwellings with backyards and nearby open spaces. Furthermore, the decline in tourism contributed to the drop in demand for short-term rentals, some of which were converted to long-term rentals.
Ha! in St_Catharines and Niagara greedy landlords of tenanted homes are selling to the highest out-of-town bidders who are throwing us out of our homes during a pandemic to face homelessness or rents double what they were a year ago (if you can find a vacancy) It's vile.