As the federal election inches closer, Canada's skyrocketing rental rates continue to be a hot button issue, with recent data from rentals.ca underscoring the need for more balance.

New data from Rentals.ca and Bullpen Research & Consulting reveals that although rental rates have declined across Canada for the second month in a row, overall they are up 8 per cent from 2018.

After continuous, and sometimes steep, increases in rent in major European cities over the past few years, prices seem to have plateaued and are leveling out this quarter, according to a new report from HousingAnywhere.

Average rents for all property types in Canada have risen for third consecutive month as rental demand increases with the arrival of the prime spring leasing season.

The median monthly rent across Canada increased nearly 6 per cent in January over December to $1,747, according to the February national rent report created by Rentals.ca and Bullpen Research & Consulting.