In terms of rental types, one-bedroom units recorded the fastest annual growth in asking rents, soaring by 15.5 per cent, reaching an average of $1,905. The report’s metrics are based on new listings, not what existing tenants are paying per month.

Rental prices in Canada reached a new high, with an average asking price of $2,149 per month in October, according to a new report compiled by a Canadian rental listings website.Īccording to Rentals.ca and real estate research firm Urbanation, the Canadian market continued its upward trajectory with data suggesting a monthly increase of 1.5 per cent from August, and an annual surge of 11.1 per cent.Įxperiencing double-digit year-over-year growth, the annual rate of rent inflation surged to its highest point in nine months, stated the report.