Canada's rental prices decline for fifth consecutive month

Rental prices in Canada are dropping as vacancies rise. This change can be good for renters hoping for lower rents, but it may cause problems for landlords and builders. A new report indicates that average rents fell 4.8 percent to $2,088, marking the fifth consecutive month of decline. Despite the drop in asking rents, many tenants in leases will not see a change in their payments. The decrease could slow new construction projects, particularly luxury rental buildings, as high prices become harder to justify. Real estate agents in Toronto report that the market has nearly frozen, with expectations of business drops between 25 and 50 percent this year. Home sales fell 9.8 percent in February, with new listings dropping 12.7 percent as tariff uncertainties affected the market. While some cities remain active, especially in the west and Atlantic provinces, potential buyers may hesitate to make purchases due to job and income uncertainties. In other news, a feature column highlights Toronto's historical Beltline Trail, offering an interesting way to explore the city's architecture. Lastly, this week's featured home is a light-filled property on Woodfield Rd. in Toronto, listed for $1,899,000.