3 w. ago
Rent prices declining more in 3 Ontario cities than anywhere else in Canada
Three Ontario cities lead the entire nation in rental price declines amid a historic market downturn in the province.Despite Ontario being home to four of the ten most expensive places in Canada to rent a one-bedroom apartment, a new report paints a grim picture for landlords in the province, as rent prices in some markets plummet at rates exceeding anywhere else in the country.The latest national rent report from Zumper outlines sharp annual declines in rent prices for one-bedroom units in Toronto, Barrie, and London.Toronto experienced the greatest annual decline in one-bedroom rent prices, dropping by 9.6 per cent year-over-year to $2,170. Toronto also witnessed the steepest nationwide decline in two-bedroom rent prices, dropping 11 per cent year-over-year to an average of $2,760.However, even after these significant declines in average rents, Toronto maintains its rank as the third most expensive place to rent a one-bedroom unit in the country, trailing Vancouver and one of its ...
Economics
