Canada’s apartments are emblematic of the broad regional differences in terms of real estate sector performance, if a recent report
from real estate search platform RentSeeker.ca is any indication.
Leading the pack among the priciest cities for apartments is Yellowknife in the Northwest Territories, with one-bedroom units going for an average of $1,401. Wood Buffalo in Alberta came second at $1,251 for the same housing type, while Oakville in Ontario is next at $1,214.
Despite being long-time epicentres of Canadian housing activity, one-bedroom apartments in Vancouver and Toronto are surprisingly not the most expensive in the country, clocking in at (respectively) $1,159 (ranked 4th) and $1,132 (ranked 6th).
RentSeeker.ca emphasized, however, that the “real-time asking price” for a majority of new rental properties is likely closer to $1,700 to $2,300 in Vancouver, and closer to $1,300 to $1,400 in Toronto.
Meanwhile, Atlantic Canada hosts all ten of the cities with the most affordable apartments nationwide. Eight of these markets—including least expensive Shawinigan ($381 for a one-bedroom unit)—are in Quebec, while two are in New Brunswick.
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