°µÍø½ûÇø

Rents have been on the decline as the federal government has reduced immigration rates that slowed population growth, and as a wave of condo completions come onto the market.

The report shows condo rents were down 3.7 per cent in August from year ago while purpose-built rental rates were down 0.4 per cent. House and townhouse rates were down six per cent from last year.

Average rents in Canada went on the decline during the height of the pandemic, but began to rise in the summer of 2021, climbing from a low of under $1,700 a month at the time to around $2,200 last year.

Vancouver and Calgary saw some of the steepest rate declines among big cities over the past year, down 9.3 and 9.5 per cent respectively in August from last year, while Toronto saw a 3.3 per cent decline.

This report by °µÍø½ûÇø was first published Sept. 8, 2025.