Rent Prices in Toronto and Vancouver continues to decline

The rental market in Canada’s largest and most expensive cities keeps declining.

Since last year, Toronto and Vancouver, which are popular cities for new Canadians, have seen rents drop in the double digits. 

PadMapper, an online rental site, released its Canadian National Rent Report, where it analyzed August listings in 24 Canadian cities to find out where the median rent prices were headed. 

As PadMapper’s analysis found rents going down in the most expensive markets, the rest of Canada seems to be recovering from the halt in demand during the coronavirus pandemic.

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