New forecast says a record-shattering 700,000 homes will sell across Canada in 2021<\/a><\/strong>\r\n <\/div>\n\u201cMeanwhile, rents in the rest of the country seem to have stabilized as the earlier pandemic months of nationwide double-digit year-over-year declines have passed and are now only concentrated in the top 2 most expensive markets,\u201d explained the Padmapper report.<\/p>\n
The Padmapper report analyzes rental data from Canada\u2019s top 24 urban areas. This month, the report noted that prices grew in nine communities, stayed flat in six, and declined in the remaining nine. Abbotsford saw the highest levels of rental price growth for one-bedroom units in the country, with prices rising by 4.8 percent monthly and 20.2 percent yearly to $1,310. In Oshawa and Kelowna, one-bedroom rentals rose by 3 percent and 2.1 percent month-to-month to $1,390 and $1,480, respectively.<\/p>\n
Since the pandemic began, renter movement outside of large communities has been attributed to price downturns in cities and the rise of rental costs in smaller, neighbouring communities.<\/p>\n
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<\/a>Photo:\u00a0Mike Benna<\/a>\u00a0\/ Unsplash<\/a><\/em><\/p>\n