Reality of renting in Canada | Jan 15, 2024
Last week, Rentals.ca released a report highlighting the reality of renting in Canada.
In December, the average asking rents for all residential property in Canada spiralled out of control, ending the year at a record-high of $2,178 in December 2023. This is an increase of 8.6% from a year ago in December 2022.
Worst still, over the past two years, asking rents have increased by a total of 22%, or an average of $390 per month. Canadians in British Columbia are being forced to manage average asking rents of $2,500 while Ontarians have to pay $2,446.
Between January 1 and November 30 of 2023, Canada built 17,561 fewer houses than in this time period in the previous year, according to Statistics Canada.
This cost of living crisis has Canadians having to choose between paying their rent, putting food on the table and heating their homes.
Only common sense Conservatives have a plan to build more homes instead of more bureaucracy and bring homes that Canadians can actually afford.