A new report says Canada's average asking rent reached a new record in July.
Data from Rentals.ca and research firm Urbanation says the average asking rent totalled just over $2,000 a month.
That total is 8.9 per cent higher than a year earlier, making it the fastest pace of growth over the past three months.
Between June and July alone, the average asking rent rose 1.8%, the most rapid month-over-month increase in the last eight months.
Compared to July 2021, the average asking rent increased by 21% adding $354 per month on average.