For the month of September 2018, Toronto and Vancouver again kept their spot as top 2 priciest cities in Canada. While Our own Calgary market firmed up with Rents for 1 and 2 bedrooms jumped by 4.8% and 4.5% respectively. Edmonton registered modest improvement with over 2.3% & 4.3%, the rental market in Burnaby B.C. took a 4.2% dive the sharpest drop across all major cities in Canada, per rental website Padmapper.
The average rent in Calgary, AB increased modestly by +4.80% decrease in one bedroom rents to $1100 and +4.50% decrease for 2 bedroom rents to $1390. On year on year the rent for the one bedroom and 2 bedroom apartments remained higher by +7.80% and +6.90% respectively.
In our neibour city Edmonton, AB, one bedroom rent rose +2.30%, with monthly rent at $890. Two bedroom rent increased more modest by +5.30% to $1200. With both Calgary and Edmonton apartment rental markets in upward mode and mortgage interest rates firming upwards, things may be turning to a better picture for landlords and owners of apartment or condo! Stay tune for more in our upcoming blogs.
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
Property Manager | Calgary