In November, rental rates have dropped across Canada for the 14th consecutive month to a total average of $2,074.

According to Rentals.ca, the sharpest decline of 6.4 per cent in the year-over-year comparison was recorded in B.C., while nationwide, the asking rent for all property types fell by 3.1 per cent.

The report states that total B.C. rents are currently $2,392 on average, and Vancouver rents in particular are at their lowest levels in over three years.

However, the average rate in many Lower Mainland municipalities is still significantly higher than the average rent in Canada.

Giacomo Ladas, spokesperson for the online rental marketplace, says that especially rates in Vancouver, North Vancouver, and Burnaby are above the average. “They are in that range of $500 to upwards of $1

See Full Page