Monthly Rental Market Report – August 2022

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Following a slight dip in July, Metro Vancouver’s rent prices are heating up again with a huge $147 increase in average rent since last month. Soaring all the way from $2,029 in July to a sky-high $2,176 this August, Vancouver’s rental market looks to continue its ascent as both landlords and renters adjust to increased competition and the reality of Canada’s latest interest rate announcements. Vancouver itself saw only mild price increases, but plenty of areas experienced more notable changes this August.