this post was submitted on 05 Nov 2023
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Average rental prices in Canada surge to records highs in October 2023: report (www.ctvnews.ca)
submitted 1 year ago by girlfreddy@lemmy.world to c/canada@lemmy.ca
10 comments fedilink hide all child comments
 

According to Rentals.ca and real estate research firm Urbanation, the Canadian market continued its upward trajectory with data suggesting a monthly increase of 1.5 per cent from August, and an annual surge of 11.1 per cent.

Experiencing double-digit year-over-year growth, the annual rate of rent inflation surged to its highest point in nine months, stated the report.

The reportโ€™s metrics are based on new listings, not what existing tenants are paying per month.

In terms of rental types, one-bedroom units recorded the fastest annual growth in asking rents, soaring by 15.5 per cent, reaching an average of $1,905.

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[โ€“] FireRetardant@lemmy.world 9 points 1 year ago (1 children)

A significant portion of our representives are landlords and have a conflict of interest in improving the situation.

[โ€“] FunderPants@lemmy.ca 10 points 1 year ago (1 children)

Yes, by percentage of caucus CPC (46%), LPC (39%), BQ, and NDP(16%) according to disclosures.

[โ€“] girlfreddy@lemmy.world 2 points 1 year ago (1 children)

Jayzuz. ๐Ÿ˜ก

[โ€“] FunderPants@lemmy.ca 7 points 1 year ago

Indeed, and landlords in Parliament are not a problem per se. Having them at such a disproportionate rate versus the general population absolutely is.