with files from Barrie 360
The average asking rent in Canada went up last month to a record $2,078. A new report from Rentals-dot-c-a and research firm Urbanation says the total is 8.9 per cent higher than a year earlier.
It also found that between June and July alone, the average asking rent rose 1.8 per cent. That's the most rapid month-over-month increase in the last eight months.
The rise is attributed to an increase in post-secondary students signing leases before the fall, high population growth and homebuyers holding off on purchases as interest rates go up.
In Barrie, the report shows the average rent price for a one-bedroom apartment climbed 10.2 per cent year-over-year for the month of July to $1,891.
Not including Toronto, Barrie did pace slightly cheaper for an average one-bedroom rental than Oshawa, Kitchener, Ottawa, and Guelph.
Nation-wide, Vancouver continued to have the highest average rent for a one-bedroom unit, at $3,013, up 16.2 per cent from a year ago July, while Toronto ranked second at $2,592 last month, a 13.4 per cent increase from July 2022.
Read the report here: https://rentals.ca/national-rent-report
