Two reports on VictoriaB次元官网网址檚 rental market were published Wednesday (March 15), and one new listing revealed how even microsuites are being priced at high levels.
ZumperB次元官网网址檚 Canadian National Rent Report named Victoria as the most expensive rental market in the nation last month, with the prices of one and two bedrooms settling at medians of $2,060 and $2,600, respectively. The report says the price of one-bedroom units in Victoria skyrocketed 15.1 per cent since February 2022.
Close to that median is a that advertises a 350-square-foot microsuite at $1,900 - calling it B次元官网网址渃ozy.B次元官网网址�
B次元官网网址淭his cozy 1 bedroom studio suite is the perfect rental for a single person or couple,B次元官网网址� reads the listing. B次元官网网址淟ocated in a quiet farmland area, this suite offers privacy and comfort. As you step inside, youB次元官网网址檒l be greeted by a well-lit living space thatB次元官网网址檚 been tastefully furnished and decorated. The suite includes a small kitchenette with a fridge and a microwave. ItB次元官网网址檚 perfect for preparing light meals and snacks. The bedroom area features a comfortable queen-sized bed and ample closet space for all your belongings. The private bathroom features a shower, sink, and toilet. Other amenities include high-speed Wi-Fi, ensuring a comfortable and connected living.B次元官网网址�
A second report by Rentals.ca said Victoria finished ninth on the list of 35 cities for average monthly rent in February for a one-bedroom home at $2,000 and sixth for average monthly rent for a two-bedroom at $2,610.
Year over year, average monthly rent in February for a one-bedroom in Victoria was up 16.7 per cent and up 1.1 per cent for a two-bedroom, according to the report. Month over month, average rent was down in Victoria in February for a one-bedroom home by 4.5 per cent and down 1.6 per cent for a two-bedroom.
RELATED:
Vancouver continues to be the most expensive of CanadaB次元官网网址檚 largest markets, with average rents increasing 19 per cent annually for condo rentals and apartments to $3,120 in February. Rents in Vancouver averaged $2,657 for one-bedrooms, $3,716 for two-bedrooms, and $4,317 for three-bedrooms.
B次元官网网址淭he rental market experienced a pullback over the past three months following record-breaking rent growth in 2022,B次元官网网址� said Shaun Hildebrand, president of Urbanation, which was part of the report. B次元官网网址淭he recent slowing can be related to high rental costs impacting affordability and an increase in new supply from apartment completions. However, several key markets experiencing high demand continued to see rents trend higher last month.B次元官网网址�
Do you have a story tip? Email: chris.campbell@blackpress.ca.
Follow us on and and like us on
