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Except one-bedroom homes in Greater Vancouver Area, downward trends in Vancouver's rental market had been continued during July, 2020. The average rent of studios in Greater Vancouver Area was $1,593, which was decreased by 1.85% compared to June 2020.
While the average home prices in June show a strong recovery or reach an all-time high during, according to TRREB, the downward trends had continued in the Toronto's rental market during July. However, unlike in past months, we now see more green colours in different types of homes.
New York City was hit hard by the pandemic when it landed in March. Now, four months later, the city is just starting to emerge from its Coronavirus cocoon.
Montreal is Canada’s mid-size major city and the one most closely related to its European ancestry. The demand for rental housing has remained steady in the city, seemingly in disregard to COVID-19—an unexpected turn of events which has renters and real estate investors, feeling relieved.
Toronto is the economic epicentre of Canada, and as such, rental housing is often snapped up quickly. The age-old economic rule of supply and demand means that Toronto is also the most expensive city in Canada to rent an apartment or condo.