The report explains that rent in Canada has increased by $175 in the past six months, and for the sixth month in a row, rents hit a new high, averaging $2,178 in October across the country.
The annual rate of rent growth in Canada was 9.9% in October, which represents the second fastest annual increase of the past seven.
The report explains that rent inflation in Canada is being driven by increases in price for rentals in Alberta, Quebec and Nova Scotia, due to strong population growth and new rental supply priced at higher-than-average market rents.
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