report – Penticton Western Information

Kelowna is the seventh most costly rental market in Canada, based on a PadMapper report. (Pixabay)

Kelowna ranked seventh most costly rental market in Canada: report

Vancouver and Toronto topped listing of nation’s most costly rental markets

The pandemic might have crippled a whole lot of issues, however that does not appear to be the case with rental costs.

PadMapper launched its report on rental charges in Canadian cities and located that in simply two months, a number of cities have seen rental price progress.

Kelowna ranked among the many ten most costly cities within the nation, rating seventh. The common month-to-month hire for a one-bedroom unit is $ 1,520 after rising 2.7% and $ 1,800 for a two-bedroom unit after rising 1.1% from final month.

“The restoration from the rental market developments of 2020 seems to have began as there may be demand which is at present pushing costs up,” based on its report.

“Since many Canadian residents will seemingly be absolutely immunized by the autumn, tenants might put together for a return to normalcy by resuming the seek for their subsequent condominium.”

Vancouver and Toronto each prime the listing of the costliest rental charges within the nation, seeing will increase for 2 consecutive months.

The PadMapper report exhibits that hire rose 1% this month in Vancouver to a median of $ 1,950 for one-bedroom lodging and a couple of.2%, or a median of $ 2,730 for 2 rooms.

A median one-bedroom rental unit in Toronto now prices $ 1,800 and $ 2,320 for a two-bedroom home.

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