Vancouver and Toronto see first rent increase in nearly three years, report says

Nearly three years had passed without a rent increase in Vancouver or Toronto. That has now changed, according to a report from Rentals.ca and Urbanation, Global News BC reported.

The two cities recorded their first increase in almost three years, the report showed Thursday. The same report put the average asking rent for all residential property types in Canada at $2,036 in October.

That $2,036 is a national figure covering every type of residential property in the country. It is not a Vancouver number.

For anyone renting in Vancouver or searching for a new place, the report marks a break from the pattern of the past three years. Rentals.ca and Urbanation's full findings are the place to look for the local detail behind the headline.