Canada’s major rental markets are showing early signs of easing as new supply comes online and demand growth slows.

Measures to limit the spread of COVID-19 and protect Canadians’ health are contributing to a significant interruption in rental demand.

According to the Goodman report: 2014 Greater Vancouver Rental Apartment Review, the Greater Vancouver area experienced a record-breaking $778-million in apartment transactions in 2014, up 33 per cent from the previous year. The average price per suite also increased, year-over-year, to $237,000.