Canadian asking rents fall for a 25th straight month as Toronto and Vancouver turn higher

The average asking rent in Canada was $2,036 in October, down 3.2% year over year and the 25th consecutive month of annual declines, according to the Rentals.ca and Urbanation report covered by The Canadian Press. The decline was the smallest since February, and rents were up 0.1% from September. Purpose-built apartment rents averaged $2,040, down 2.1%, while condominium rents fell 5.5% to $2,048. Toronto and Vancouver posted their first increases in nearly three years, while rents kept falling in Calgary, Edmonton and much of Ontario.