Vancouver is the most expensive place to rent in Canada and by a wide margin.
Greater Victoria, meanwhile, is home to the fourth most expensive rentals in Canada and the second most expensive in B.C., according to July data from a national rentals site.
Rentals.ca says the price of an average one-bedroom rental in the Greater Victoria region last month was $1,756, a leap of 8.7 per cent over June and 11.6 per cent over July 2020. The average two-bedroom sat at $2,103, a smaller increase of two per cent over the previous month and 4.6 per cent over the previous year.
The three regions ahead of Greater Victoria were Vancouver at $2,185, Toronto at $1,855 and Etobicoke – a suburb of Toronto – at $1,802, for one-bedroom rentals. The cheapest three areas for one-bedrooms were Red Deer at $901, St. John’s at $887 and Lloydminster at $721. Overall, the average one-bedroom rental price in July in Canada was $1,396, Rentals.ca found.
In B.C., the average rent for all property types in July was $2,175, $206 over June’s $1,969. It was the highest provincial average, followed by $2,024 in Ontario, $1,637 in Quebec, $1,380 in Manitoba, $1,272 in Alberta, and $1,018 in Saskatchewan. Every province experienced year over year average increases except Ontario and Quebec, which each decreased by a handful of dollars.
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