Average asking rents across Canada grew at the slowest annual pace since October 2021, reaching 2.1 per cent in September due to a decrease in foreign student enrolments.
According to Urbanation's latest report, Ontario and B.C. saw the largest drops in average asking rents, with decreases of 4.3 per cent and 3.2 per cent, respectively.
While rent growth has slowed significantly, it remains 13.4 per cent higher than two years ago, indicating that rental affordability challenges persist.
Rent in Saskatchewan surged by 23.5 per cent, marking it as the fastest-growing province in Canada for asking prices as Canadian rental markets undergo shifts.
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