Average asking rents decrease for fifth straight month to $2,088: report
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$0 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*No charge for 4 weeks then price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 10/03/2025 (245 days ago), so information in it may no longer be current.
Average asking rents across Canada fell year-over-year for the fifth straight month in February to $2,088.
A monthly report by Rentals.ca and Urbanation, which analyzes listings in the former’s network, says rents declined 4.8 per cent last month, marking the largest decrease since April 2021.
The report says that despite those declines, average rents in Canada are still 5.2 per cent higher than two years earlier and 16.9 per cent higher than pre-pandemic levels.
Urbanation president Shaun Hildebrand says asking rents are softening as supply outweighs demand, with record high apartment completions coming at the same time that population growth has slowed and the economy faces heightened risks due to a trade war with the U.S.
The report says purpose-built apartment asking rents declined 1.9 per cent from a year ago to an average of $2,070, while asking rents for condominium apartments fell 7.6 per cent to a 26-month low of $2,192.
Ontario recorded the steepest rent declines, with apartment rents falling 4.2 per cent to an average of $2,329 in February, followed by B.C.’s one per cent decrease to $2,457.
This report by The Canadian Press was first published March 10, 2025.