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Burnaby rent prices still rising as housing market stalls

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Burnaby is still one of the top three most expensive cities to rent from in Canada.

Rentals.ca's December stats show Burnaby is still boasts the third highest price for rent in all of Canada with a one-bedroom averaging $2,304 while a two-bedroom is inching closer to $3,000 at $2,968, increases of 0.6 and 2.2 per cent respectively in the last month.

Vancouver continues to be number one with a single bedroom coming in at an average of $2,633 and two bedrooms at $3,598. In Burnaby, residential/composite prices in Burnaby East were recorded at a benchmark price of $1,107,700 in November , $982,500 in Burnaby North and $1,055,700 in Burnaby South .

"Heading into 2023, the market continues the trend of shifting toward historical averages and typical seasonal norms," Lis added.

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