Average rental rates for all Canadian properties in December 2021 reached $1,789 per month — up 3.8 per cent from a year ago, according to the latest National Rent Report.

In a sign of recovery, centrally located luxury rentals in Toronto and Vancouver are increasing in demand and in price, according to the latest National Rent Report.

As August rents continued to decline in most Canadian markets, experts agree that the lower demand is a reflection of several COVID-related factors, including income loss.

Analysts are predicting that average rents in Canada will continue to increase in 2020 despite an increase in purpose-built rental construction and recent legislative changes.

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.

The average monthly rents in Canada increased another 1.9 per cent in June , according to the latest National Rent Report produced by Rentals.ca and Bullpen Research & Consulting.