National rankings of median rents based on listings compiled by PadMapper, a listings site for available rental units. (Image courtesy of PadMapper)

Victoria rental prices declining, according to national listing website

The median price of a one-bedroom suite dropped almost five per cent in December

Victoria’s rental market could be showing signs of cooling, according to a report by an apartment rental listing website.

According to Pad Mapper, a rental listings service that plots locations on a map, the median price of Victoria’s one-bedroom apartments fell 4.7 per cent in December to $1,210, although we’re still the fifth-most expensive city in which to rent in the country.

Median rents for a one-bedroom unit in Vancouver, listed as most expensive Canadian city, also dropped, 4.3 per cent to $1,990 for one-bedroom units, and 3.1 per cent to $3,100 for two-bedroom suites.

Year-over-year, however, rents jumped more than 10 per cent in six of the top 10 markets, with the largest spikes seen in the top four cities. Toronto ranked second highest at $1,970 for a one bedroom, while Barrie, Ont. and Montreal tied for third at $1,270 for the same housing type.

Rental prices in Kitchener, St. Catherines and Quebec City also increased on average, while those in Hamilton, Kingston and Saskatoon dropped.

lauren.boothby@vicnews.com

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

Just Posted

Restrictions on unrelated occupants dominates Saanich council meeting

Saanich council sends issue of unrelated occupancy limits to public hearing

VIDEO: Wet’suwet’en supporters protest police action in Victoria

Protesters say at least 14 were arrested by police overnight

Saanich starts reserve fund to enhance municipality’s urban forest

Funds will go to planting more trees support urban canopy growth, outreach

High-rise hotel proposed for downtown Victoria location

A 15-storey hotel could be coming to the Fort and Blanshard streets area

Advocates call hospital parking fees a ‘shakedown’ after learning most Island tickets are waived

Victoria General and Royal Jubilee hospitals among the most ticketed on the Island

VIDEO: Trudeau insists Iran respect families’ wishes when it comes to burials

All 176 people on board the Ukraine International Airlines flight PS752 were killed

Horgan unveils B.C. cabinet shuffle changes

Premier John Horgan has made three major changes to his cabinet

Dog reunited with Tofino owner, months after being taken from beach

Shannon Boothman ‘ecstatic’ at pet’s return after a tip leads to social media search

B.C.’s first ride-hailing app to launch in Tofino, Whistler in February

The Whistle! app will be available in Tofino on Feb.1 and in Whistler Feb. 6.

Councillor resigns in Revelstoke after colleagues approved 67% raise

Council approved a 134 per cent raise for the mayor of Revelstoke

Rolled-over dairy truck in Abbotsford lost 40,000 litres of milk

Truck removed Sunday, Jan. 19, with specialized equipment to upright vehicle

Boy, 13, arrested after alleged assault involving girl at B.C. middle school

Boy alleged to have used ‘inappropriate levels of force’ to injure the girl

B.C. premier talks forestry, service needs with handful of northern mayors in Prince George

Prince George meeting completes premier’s tour of Kitimat, Terrace, Fort St. James and Quesnel

Most Read