Rental prices for a one-bedroom unit have climbed in Kelowna in the last year (File photo) (Black Press Media files)

Victoria, Abbotsford recorded biggest jumps in rent prices nationwide: report

Toronto and Vancouver had priciest rentals in Canada

Victoria and Abbotsford recorded the biggest year-over-year rent increases, by percentage, in the country, according to a report from PadMapper released Monday.

The organization analyzed rental data from hundreds of thousands of active listings across the country and came up with the median figures for one and two-bedroom apartments as of February.

The report found that a one bedroom in Toronto topped the list for that unit size at $2,300, with Vancouver a close second at $2,150, Burnaby in third at $1,760 and Victoria in fourth with $1,590. B.C.’s capital also saw the biggest percentage increase with a 5.3 per cent jump, while Abbotsford saw a 4.8 per cent jump from February 2018 to 2019.

The other two cities from B.C. to make the list were Kelowna in the eighth spot with a one-bedroom rent of $1,350, a two-bedroom one of $1,630, and Abbotsford with $1,090 for a one bedroom and $$1,270 for a two bedroom.

A two bedroom space in Vancouver topped the list at $2,990 per month, with Toronto in second place at $2,980.

In Burnaby, a two bedroom would cost you $2,350, while a Victoria two bedroom would hit at $1,920.

READ MORE: Rental vacancy rates last year hit lowest since 2002 after third year of decline


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