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

Just Posted

Greater Victoria sees lowest rainfall numbers for November in decades

Only a third of the expected rainfall was seen across the Capital Region

UVic researchers develop industry-changing ‘hyper-glue’

‘Cross-linking’ technology already playing a role in performance body armour

Trend to convert lawns to meadows and gardens reaches Oak Bay

Front yard ‘food production,’ a piece of the puzzle

West Shore sees drop in traffic violations

The 315 violations in first six months of the year represent a 42 per cent decrease from 2018

Cloudy with a chance of showers ahead for Thursday

Plus a look ahead at the weekend’s forecast

VIDEO: A brief history of bumps in the Trudeau-Trump relationship

Remember Peter Navarro saying ‘there’s a special place in hell’ for a foreign leader who aims to cheat?

11 Sooke events to get you into the holiday spirit

From a Santa parade to classicial music, Sooke has it all

Vancouver Island town to star in new Syfy series: Resident Alien

Ladysmith will play the role of Patience, Colorado in the series

Half of shoppers say they have no holiday spending budget

B.C. consumers surveyed estimate they will spend $921 this season

Opening day delayed at Mount Washington

Dec. 6 was set as opening day but will now be delayed due to lack of snow.

Province begins forfeiture of Shawnigan contaminated soil site

The forfeiture proceedings do not impact the closure plan for the landfill site

Man killed in crash due to ‘absolutely treacherous’ conditions on Coquihalla

Winter means icy roads are dangerous and drivers should be careful, RCMP say

Former Burns Lake mayor gets two years for sexual assaults against minors

The Crown is seeking four to six years federal time; the defence wants 18 months in provincial jail

Bag of cocaine left in Vancouver Island grocery store aisle

RCMP: ‘We sure would like to talk to’ person who left drugs behind

Most Read