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Canada's Rent Slide Is Finally Stalling — What It Means If You Rent or Rent Out

  Published August 13, 2026 For nearly two years, "Canadian rents are falling" has been one of the safest headlines in personal finance. The August 2026 National Rent Report from Rentals.ca and Urbanation, released last week, suggests that streak may finally be running out of road — and the shift matters whether you're the one paying rent or the one collecting it. The Numbers National avg. asking rent (July) $2,037 Year-over-year change -4.0% (22nd straight monthly decline) Month-over-month change +0.2% (4th straight monthly rise) Toronto, month-over-month +1.6% to $2,577 Falling, But Not as Fast Rent is still dropping on a year-over-year basis nationally — that's now been true for 22 straight months. But the pace of the decline has been easing since it bottomed out in March, and July marked the smallest annual drop since February. On a month-to-month basis, rent has now risen for four months running, which typically happens every summer as the market hits its season...
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Are rate hikes over for Canada


The Canadian economy is expected to show a modest growth of 0.4% in the third quarter of 2023, according to the latest estimates from Statistics Canada. This is lower than the 0.6% expansion in the previous quarter, and well below the 2.1% growth rate that the Bank of Canada projected in July.

The weak GDP numbers have fueled the speculation that the country may be heading into a recession, as global trade tensions, lower oil prices, and household debt weigh on the economic outlook. 

However, not everyone is convinced that the situation is so dire. Some forecasters argue that the third quarter slowdown was mainly due to temporary factors, such as a strike at a major auto plant, a drop in agricultural output due to drought, and a slowdown in housing construction. They expect that the economy will rebound in the fourth quarter, as these factors dissipate and consumer spending picks up.

Moreover, some forecasters point out that the inflation rate remains within the central bank's target range of 1% to 3%, suggesting that there is no need for further monetary stimulus. They also note that the labour market remains strong, with the unemployment rate at a near-record low of 5.5%, and wage growth at a solid 3.2%.

Therefore, some forecasters believe that the Bank of Canada will maintain its wait-and-see approach, and keep interest rates unchanged until there are clear signs of either a sustained recovery or a prolonged downturn. They argue that the central bank has already done enough to support the economy, by cutting interest rates three times in 2022, and that any further easing could fuel financial imbalances and inflationary pressures.

In summary, the GDP numbers for the third quarter of 2023 are likely to spark more debate about the state of the Canadian economy and the direction of monetary policy. However, some forecasters are more optimistic than others, and think that the rate hikes are over for now, unless there is a significant change in the economic conditions.

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