The national average asking rent in May was down 3.3 per cent from a year earlier at $2,129, marking the eighth consecutive month of year-over-year decreases.
The latest monthly report from Rentals.ca and Urbanation says asking rents held steady from April, with a 0.1 per cent month-over-month increase.
Ontario recorded the largest rent decline in May, with asking rents falling 3.6 per cent year-over-year to an average $2,335.
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Of the 60 municipalities surveyed nationwide, Barrie ranked 27th for asking rent for a one-bedroom apartment at $1,887, down 3.3 per cent in May from the month previous and a 4.2 per cent year-over-year decline.
The average asking rent for a two-bedroom apartment in Barrie was $2,227 in May, a dro of 1.4 per cent month-over-month, and a 3.1 per cent dip year-over-year.
Looking at the country as a whole, Urbanation president Shaun Hildebrand says rents have eased in part due to a surge in supply from new apartment completions, a slowdown in population growth and a heightened level of economic uncertainty.
See the report here: https://rentals.ca/national-rent-report
Files - The Canadian Press
