Canadian Rental Prices See Moderate Escalation

By Bizclik Editor


According to the Fall Rental Market Survey released today by The Canada Mortgage and Housing Corporation (CMHC), 2011 was a good year for landlords. Property managers managed  to squeeze a little more cash out of their tenants, as the average price of rent for a two bedroom apartment went up by twenty bucks, from $860 dollars last year to $883 in 2011. 


The old real estate phrase, “location, location, location” still holds true as the average price of rent varied drastically depending on the respective city. Vancouver still ranks as the most expensive place to rent, as the average price of a two bedroom apartment registers at approximately $1,237. 


However, Vancouver's high price of rent is probably worth the steepened cash call, according to London based The Economist Group, whose recent poll “Best Cities to Live-In” ranked Vancouver as not only the best place to live in Canada, but also, the best city to live the entire world. The poll attributed Vancouver's amazing livability to its lush green scenery, clean streets, diverse culinary community and expansive cultural outlets. 



Click here to read the latest issue of Business Review Canada 

In comparison, for those looking to save cash on rent, the lowest city to find a discounted abode is in the outstandingly affordable city of Troise Rivieres, in the region of Quebec, where the average monthly rent chalked up to $547 dollars for a two bedroom apartment. 


All in all the conservative climb in rental price, can be read as a positive sign, as more people are managing to afford to rent, and at higher prices. However, some say the decreased rental vacancy rate may indicate a moderate conversion of mortgage payers to renters, as the ailing economy has made renting more attractive to home owners stricken with overly steep mortgages. All these factors may have contributed small effects, but chances are the increased prices are just keeping up with the natural progression of inflation, which like time itself, continues to steadily tick on. 


Featured Articles

DEI done right: Brook Sims, COO, MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Q&A: China’s ecommerce innovator Jeff Li, CEO of Shoplazza

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

How hybrid work is revolutionising the physical office

As hybrid work models roll out worldwide, the purpose of the office is changing with collaboration, connection and networking taking centre stage

Trailblazer: Shanique Bonelli-Moore, DEI chief at Clorox


Dean Forbes – the Forterro CEO aiming for the moon

Leadership & Strategy

Why becoming a B Corp is good for business