The latest data from Rentals.ca and Urbanation said average rents across all property types in B.C. fell by 6.2 per cent compared to October 2024. Leading the country as average asking rents declined across Canada in October.
Average asking rents for apartments fell 5.8 per cent to $2,401 in October, and were down nearly 10 per cent from two years ago. Two-bedroom apartment rents saw the biggest losses, down 6.6 per cent from last year to $2,686.
It was the 13th consecutive month of year-over-year declines for Canadian rents. However, the report said that decline appears to be slowing, noting 2.2 per cent drop in October was the smallest in nearly a year.
Rents have risen by 14 per cent, or $259 per month, compared to the pre-COVID average in October 2019.
Source: My Comox Valley Now
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