File - Barrie 360
A new report says the asking rent for a home in Canada in March was up 8.8 per cent compared with a year ago, but down from February.
The report by Urbanation, which analyzes monthly listings from Rentals.ca, says the average asking rent for all home types was $2,181 last month.
On a month-over-month basis, asking rents in March were down 0.6 per cent from February.
Based on the report, the average asking rent for a one-bedroom unit in Canada was $1,915, up 11.3 per cent from a year ago, while the average asking price for a two-bedroom unit was $2,295, up 10.6 per cent from March 2023.
In Barrie, the average rent for a one-bedroom unit was $1,889 last month, down 3.8 per cent from a year ago, while year-over-year the asking price for an average two-bedroom unit was down 10.3 per cent to $2,239.
Overall in Canada, asking rents for purpose-built rental apartments in March increased 12.7 per cent compared with a year earlier to reach an average of $2,117. Condominium apartment rents averaged $2,321, up 3.9 per cent from March 2023.
The increase in the national average came as the average asking rents for purpose-built and condominium apartments in B.C. fell 1.9 per cent year-over-year to $2,494 as average asking rents in Vancouver moved down 4.9 per cent to $2,993.
Banner image by Barrie 360
This report by The Canadian Press was first published April 12, 2024.
