For the month of August 2018, Toronto and Vancouver remained their spot as top 2 priciest cities in Canada. The rental market in Edmonto registered the sharpest drop with over 5.4% drop in rent prices, while Halifax in Nova Scotia notched impressive 5.5% rent increase per rental website padmapper.
The average rent in Calgary, AB continued to be soft with modest of -2.80% decrease in one bedroom rents to $1050 and -1.50% decrease for 2 bedroom rents to $1330. On year on year the rent for the one bedroom and 2 bedroom apartments remained higher by +2.90% and +2.30% respectively.
In our neibour city Edmonton, AB, one bedroom rent fell -5.4%, which was the largest monthly decline in the country, to $870. Two bedroom rent decreased a slight -0.9% to $1,150. With both Calgary and Edmonton aparment rental markets in downward mode and mortgage interest rates firming upwards, this may be a good time to think about renting instead of buying your next apartment or condo!
LEASEWELL is a premier property services company in Calgary. We help landlords with all aspects of their rental property so you can focus on things that matter most for you. while we do the heavy lifting for you. Let us help you find great tenants and keep your rental in top shape to maximize return on your property investment.
For more please visit our website www.leasewell.ca or contact us at firstname.lastname@example.org