(Black Press Media files)

(Black Press Media files)

B.C. suburbs could see increased demand for rental units as people work from home

Vancouver’s average monthly rent is the highest out of 35 cities across Canada

As more people work from home during the ongoing pandemic, renters are looking for cheaper units with more space – including homes further away from their place of work – a new national rent report suggests.

According to the report, released Wednesday (Oct. 14) and conducted by Bullpen Research and Consulting and Rentals.ca, B.C. is one of two provinces seeing year-over-year increases to average rental prices.

Tenants are looking for larger units, either by square footage or by number of bedrooms, the collected data suggests. People also appear to be avoiding the most expensive single-family properties and condominium apartments in major cities, such as downtown Vancouver.

“Many prospective tenants desire more space as they work from home,” said Matt Danison, CEO of Rentals.ca.

The report also suggests that employment rates are continuing to adjust to closer levels of what were seen before the height of the pandemic in March and April.

Canada added nearly 380,000 jobs in September, and analysts have estimated that 75 per cent of employees who lost their jobs during the beginning of COVID, have been rehired or found new work.

This could result in demand for rental units climbing upward again this winter, Danison said.

Rentals.ca also released a rank-list of 35 cities across Canada, including five in B.C., based on highest average monthly rent prices for one- and two-bedroom units.

Vancouver is second on the list out of the 35 cities for an average monthly rent for a one-bedroom home in September at $1,941. Renting a two-bedroom home averaged at $2,712.

Despite Vancouver rental prices dropping year-over-year at 1.6 per cent for apartments and condo rentals, the city still ranks highest for the average annual rent at $2,249, across Canada.

Surrey was ranked eighth for one-bedroom units, averaging at $1,724, and 17th for two-bedroom homes, at $1,826.

Burnaby followed Surrey, at ninth, for one-bedrooms at $1,689 but sixth for two-bedroom units at $2,200.

Victoria was ranked 11th for a one-bedroom home, renting each month at $1,616 and two-bedrooms at $2,021. Year-over-year, rent for a one-bedroom unit increased 9.6 per cent. Whereas, monthly rent for a two-bedroom was up 0.8 per cent.

New Westminster was ranked in 15th spot with one-bedrooms at $1,540, as well as ranked 10th with two-bedroom units averaging at $2,100.

Like us on Facebook and follow us on Twitter.

Want to support local journalism? Make a donation here.

Real estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

A spokesperson for the Peninsula Country Market is upset that their third and final Winter Market won’t happen this Saturday in Central Saanich’s Centennial Park following moves by the municipality. (Facebook/Peninsula Country Market)
Central Saanich postpones weekend Winter Market, organizers upset

Lorea Tomsin said municipality’s move runs counter to provincial direction

As cyclists and pedestrians pass by at Humboldt and Government streets, a garden of blooming black-eyed Susans brightens up the northwest corner of the Fairmont Empress Hotel property on a partially sunny November afternoon. (Don Descoteau/News Staff)
Keep your umbrella handy for the next while around Greater Victoria

November has lived up to its reputation as one of the rainiest months of the year

Victoria-Swan Lake MLA Rob Fleming moves to the role of transportation minister in the NDP’s new cabinet. (B.C. government file photo)
Greater Victoria MLAs claim key roles in new cabinet

Transportation, Indigenous relations, children and family development ministries headed by locals

Victoria police are warning people after two Victoria residents fell victim to financial scams on Nov. 18 and 19. (Black Press Media File photo)
VicPD issues warning after two Victoria residents scammed $3,500

In both cases, the fraudsters were posing as financial services employees

Penny Hart is emotional outside the Saanich Police Department as she pleads for helpt to find her son Sean Hart last seen Nov. 6 at a health institution in Saanich. (Devon Bidal/News Staff)
VIDEO: Mother of missing Saanich man begs public to help find her son

Sean Hart last seen leaving Saanich mental health facility Nov. 6

Anyone with information on any of these individuals is asked to call 1-800-222-TIPS (8477) or visit the website victoriacrimestoppers.ca for more information.
Greater Victoria Crime Stoppers wanted list for the week of Nov. 24

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

(AP Photo/Haven Daley)
POLL: Do you think the current COVID-19 restrictions should continue beyond Dec. 7?

One week into the new restrictions to curtail the spread of the… Continue reading

Police in Nanaimo are looking for a suspect who wore a black-and-white striped hoodie and rode a yellow mountain bike when he allegedly stole three children’s backpacks from a daycare facility. (Photo submitted)
VIDEO: Thief steals children’s backpacks from daycare in Nanaimo

Suspect rode a yellow mountain bike and made off with backpacks hanging on fence

Arthur Topham has been sentenced to one month of house arrest and three years of probation after breaching the terms of his probation. Topham was convicted of promoting hate against Jewish people in 2015. (Photo submitted)
Quesnel man convicted for anti-Semitic website sentenced to house arrest for probation breach

Arthur Topham was convicted of breaching probation following his 2017 sentence for promoting hatred

Langley School District's board office. (Langley Advance Times files)
‘Sick Out’ aims to pressure B.C. schools over masks, class sizes

Parents from Langley and Surrey are worried about COVID safety in classrooms

The Klahoose First Nation village on Cortes Island is under lockdown until further notice due to a positive COVID-19 test. Photo courtesy Kevin Peacey.
Cortes Island First Nation community locked down due to positive COVID-19 test

Klahoose First Nation has had one positive test, one other potential case

Ladysmith’s 1st Avenue will be lit up until January 15. (Cole Schisler photo)
Light Up parade a no-go, but Ladysmith’s streets are still all aglow

Although the tradition Light Up this year was cancelled, folks can still enjoy the holiday lights

The baby boy born to Gillian and Dave McIntosh of Abbotsford was released from hospital on Wednesday (Nov. 25) while Gillian continues to fight for her life after being diagnosed with COVID-19.
B.C. mom with COVID-19 still fighting for life while newborn baby now at home

Son was delivered Nov. 10 while Gillian McIntosh was in an induced coma

Most Read