Average rental prices continue to climb across Canada but the growth is slowing, according to a new report from Urbanation and Rentals.ca.
Asking rents increased seven per cent year over year in June to $2,185 per month. That was the slowest annual rate of growth in 13 months, according to the report.
On a month-over-month basis, average asking rents across the country fell 0.8 per cent. Officials said that was the largest monthly decline recorded since early 2021.
Purpose-built apartments saw the biggest increase, up 11 per cent year-over-year to an average of $2,121. One-bedroom units saw average asking rents of $1.929 (up 9.7 per cent) while two-bedroom units were $2,338 (up 12 per cent).
Meanwhile, asking rents for condominiums increased 2.6 per cent over the past year to an average of $2,320.
The average asking rent for a house or townhouse was $2,332, an increase of two per cent over last year.
