Canada’s Average Rent Falls to 33-Month Low

According to the latest National Rent Report from Rentals.ca and Urbanation, the average asking rent for all residential properties in Canada declined 2.8 per cent year-over-year in February to $2,030, marking the 17th consecutive month of annual rent decreases.

Rents fell to their lowest level in 33 months and were down 7.4 per cent in comparison to two years ago, while remaining 2.3 per cent higher than three years ago.

“Canada is undergoing its largest downturn in rents in recent history,” said Shaun Hildebrand...