According to new data from the province, recent policies and interventions have helped significantly lower B.C. asking rents since they peaked in 2023.

Effective January 1, 2025, Manitoba's new rent guideline has been set at 1.7 per cent, a significant decrease from the 2024 guideline.

Average residential rents in Canada are closing in on their pre-pandemic peak, with the median rent reportedly hovering at $1,800 per month for all property types.

Residential rents for all Canadian properties listed on Rentals.ca in February averaged  $1,820 per month, an increase of 6.2 per cent since this time last year.