Latest news with #Rentalsca
CBC
a day ago
- Business
- CBC
Average rent for Vancouver apartments down 7% in the past year: Rentals.ca
The average asking rent for an apartment in Vancouver fell about seven per cent over the past year, now sitting at roughly $2,830 per month, according to a report. But are renters feeling any relief? The CBC's Hayley Carolan spoke with tenants in Kitsilano and the West End to find out.
CBC
3 days ago
- Business
- CBC
Rents down in Calgary but demand for non-market housing still strong
Social Sharing Calgary's rental market continues to cool off, with average asking rents falling by 9.3 per cent in July compared with a year earlier, according to new data from Despite the dip in prices, the non-profit Attainable Homes Calgary said housing affordability remains a huge challenge for many across the city. "We are seeing as strong a demand as ever," said Jaydan Tait, president and CEO of the non-market housing provider. "We still see a lot of people that have great jobs, great stable work, great stable incomes, they still don't make enough money to afford that market housing. So we attract them to our program." The latest report from shows Calgary's one-bedroom units cost an average of $1,593 in July. Two-bedroom units were priced at an average of $1,931 — a year-over-year drop of 9.0 per cent and 10.5 per cent, respectively. Even though Calgary's rental prices are down from last year, Tait said Attainable Homes continues to attract an average of 200-300 potential new clients per month. "So we have done a really good job … in Calgary at ramping up production of housing," he said. "But market housing at market price is still not the type of housing that our people that earn less than average incomes need to live." More relief from high housing costs could be on the way. Giacomo Ladas, associate director of communications with said Calgarians can expect the trend of slipping prices to continue. He said the city is well-positioned to meet housing demands driven by population growth, which slowed down across Alberta in 2025, according to Statistics Canada data. "The 'Alberta Is Calling' campaign was really successful in bringing a lot of people, but that stopped," Ladas said, referring ot the program that encouraged some Canadians to move to the province. In addition, international population growth has really slowed down, he said. Meanwhile, the housing supply in Alberta continues to rise. "Somewhere like Toronto and Vancouver, it's much more limited to where you can build … Alberta and Calgary are just better equipped to bring more supply. Their cities are a lot more equipped to expand, and we're seeing that in play here as supply continues to increase." Attainable Homes recently finished a 70-unit, below-market housing development in the western part of downtown and is currently constructing a six-story, 84-unit rental building nearby. But even when all 154 units in both buildings are available to renters, Tait expects the organization will continue to see plenty of demand from a "lengthy group of potential clients." Across the province, asking rents fell by an average of 3.9 per cent in July from the previous year, according to Other cities in the province saw a much smaller price change year-over-year. The cost of a one-bedroom unit fell by 4.6 per cent in Lethbridge, 3.8 per cent in Edmonton and 1.2 per cent in Medicine Hat.
CTV News
4 days ago
- Business
- CTV News
Rents dropping but students still struggling to get by
Rents continue to come down in Lethbridge and across Alberta, but many students are still struggling to afford housing and school. Lethbridge is still one of the most affordable cities in Canada for renters. One-bedroom accommodations cost $1,336 per month compared to the national average of more than $1,800. 'We are continuing to see rents across Canada come down. Lethbridge is no exception there,' said Giacomo Ladas with But two-bedroom rents have risen 6.3 per cent year-over-year to $1,621. Many university students coming to Lethbridge this fall will be stuck paying those higher rents. 'Right now, we're seeing a lot of students working multiple jobs just to afford rent, and it's taking a real toll on their academic performance here. So, we're really taking it seriously,' said Bradley Pike, the University of Lethbridge Students' Union's vice-president external. Supports are available to students who need it. Emergency bursaries are available through the U of L Students' Union. But there's no specific rent supports or subsidies. 'Currently, there's nothing supported by the university in particular to subsidizing rent, but we do have the emergency grants for the times that students are facing significant financial challenges,' Pike said. Renters could be in for a bit of a break later this fall. After the summer rental peak, rents are expected to drop further. But most post-secondary students likely already have their apartments locked in. 'If we're developing a property, we don't want it ready for the middle of February,' Ladas said. 'As we know, Canada has sometimes too long of a winter. So, a lot of the supply comes in around June, July. … Your developers—their goal is to have them ready for that time. 'And then, of course, that matches really well with the demand of renters.' Alberta saw its average rent drop 4.4 per cent year-over-year to $1,738.
CTV News
4 days ago
- Business
- CTV News
Report: National average rent falls for 10th straight month
A new report from found the Canada average rent fell to $2,121 in July, down 3.6 per cent year-over-year, marking the largest drop of 2025 so far.
Yahoo
4 days ago
- Business
- Yahoo
Average asking rents fall annually for 10th straight month to $2,121: report
TORONTO — The national average asking rent in July fell 3.6 per cent from a year earlier to $2,121, marking the 10th straight month of year-over-year decreases and the largest drop of 2025 so far. The latest monthly report from and Urbanation says asking rents held roughly steady in July on a month-over-month basis, down $4 from June. The report says purpose-built apartment asking rents fell 1.7 per cent from a year ago to an average of $2,095, while asking rents for condominium apartments decreased 5.7 per cent to $2,202. manager of data services David Aizikov says Canada's rental market "is experiencing a prolonged softening phase, with price declines accelerating across most provinces and unit types,' adding he expects continued rent drops heading into the fall. But the report says average asking rents in Canada are still two per cent higher than they were two years ago and 11 per cent above levels from three years ago. Nova Scotia saw the largest rent decline in July with asking rents falling five per cent year-over-year to an average of $2,275, followed by B.C.'s 4.4 per cent decrease to $2,475 and Ontario's three per cent drop to $2,325. This report by The Canadian Press was first published Aug. 8, 2025. Sammy Hudes, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
