files from Barrie 360
A report by Rentals-dot-ca and Urbanation says spring arrived with a highly competitive rental market, driven by a record population increase and low homeownership affordability.
The report says average rents across Canada were up one per cent between February and March, the first month-over-month increase since November.
Year-over-year, though, rents shot up 10.8 per cent.
In Barrie, according to Rentals-dot-ca, the average rent for a one-bedroom rose 1.8 per cent between February and March to $1,963 a month. This amounts to an 11 per cent increase year-over-year.
A two-bedroom apartment in Barrie was $2,496, up only 0.2 per cent between February and March, but a 21 per cent spike year-over-year.
Rent was steepest in Vancouver -- where a one-bedroom home hit $2,743 a month -- and cheapest in Lloydminster, Alberta, at just $820.
More information: https://rentals.ca/national-rent-report
