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Your daily horoscope: January 14, 2025

  HOROSCOPES IF TODAY IS YOUR BIRTHDAY If your current way of working does not seem to be taking you closer to your goals then ditch it completely and start over. New technologies such as artificial intelligence could help you immensely this year, IF you have the intelligence to use them wisely. ARIES (March 21 - April 20): There is a lot of pressure building up in your life at the moment but that’s okay because you thrive on being challenged. When the going gets tough Aries is the first sign to get tough in return and today will be no exception. TAURUS (April 21 - May 21): You may be in two minds about what direction you should be taking but what occurs over the next 24 hours will point the way and all you have to do is follow the lead that the universe gives you. Get past your doubts and get moving. GEMINI (May 22 - June 21): If you start something new today it will take up a lot more time and energy than you expected, so think about it carefully and make sure you will be able to...
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Rent Reaches New Heights: Average Asking Price Hits $2,196 in January

 

In the ever-evolving landscape of Canada’s rental market, a new milestone has been reached. As we stepped into 2024, the average asking price for rent soared to $2,196 per month, marking a 10% increase from the same time last year. This surge comes amidst a deepening rental crisis that has left many Canadians grappling with housing affordability.

The data, released by Rentals.ca and market research firm Urbanation, paints a vivid picture of the challenges faced by renters. Just two months before the COVID-19 pandemic lockdowns began in January 2020, the average asking price stood at a more modest level. Since then, it has skyrocketed by 20% or $373 per month. The supply-demand imbalance has played a pivotal role, pushing rent prices to unprecedented heights.

While the national trend points upward, regional nuances emerge. Here’s a glimpse of how different cities fared:

  1. Vancouver: Despite being the most expensive city for renters, Vancouver witnessed a 3% decline in rent prices compared to last year.
  2. Edmonton: The fastest-growing rental market, Edmonton saw a staggering 17.1% increase, with an average price of $1,479 for purpose-built and condo rentals.
  3. Calgary: Not far behind, Calgary experienced a 12.8% surge, bringing the average rent to $2,047.
  4. Toronto: The bustling metropolis maintained its position, with an average asking price of $2,511 for one-bedroom units.
  5. Saskatoon: The most affordable city for one-bedroom rentals, Saskatoon’s average asking price stood at $1,192.

The cost of a one-bedroom rental continued its upward trajectory, growing by 12.6% annually in January. Vancouver led the pack with an average asking price of $2,683, followed closely by Burnaby, B.C., at $2,551, and Toronto at $2,511.

For those sharing living spaces with roommates, the average asking rent across Alberta, B.C., Ontario, and Quebec surged by 18.5% annually to $1,010 in January. The rental market remains under pressure, exacerbated by increasing inflation and a growing population.

The Canada Mortgage and Housing Corp. (CMHC) reported a vacancy rate of 1.5% for purpose-built rental apartments during the first two weeks of October 2023, the lowest in over two decades. As the housing landscape continues to evolve, renters face an uphill battle in finding affordable homes.


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