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 Property Management helps management of your rental and investment property completely hassle free for you so you can focus on things that matter most for you. We do this while making sure that you have choice of high quality, pre-screened tenants to choose from to maximize return on your property investment. For more please visit our website www.leasewell.ca or contact us at firstname.lastname@example.org