The rate at which Canadian rental prices are increasing should slow in the coming years as the government’s plan to cut back immigration numbers takes hold, a new report from Desjardins says.
“Our outlook is for a slowdown in the pace of rent inflation over the next few years, in line with a rising unemployment rate and weaker population growth,” it predicted.
Rents have been rising fast and rent inflation is “much higher” than increases in the price of owned homes, it said. Inflation of rented accommodation was 8.3 percent in the third quarter of this year, “the fastest pace since the early 1980s.”…