Canadian Apartment Rents Fall for 11th Straight Month
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AI Article Summary
The average asking rent for residential properties in Canada decreased by 2.3% year-over-year in August, continuing an 11-month trend of falling rents. Despite this decline, rents are still 1% higher than two years ago, with notable declines in Vancouver, Toronto, and Calgary. Purpose-built rentals saw the smallest decrease at 0.4%, whereas condos and houses dropped more significantly. Alberta, followed by British Columbia and Ontario, led the yearly declines among provinces.
