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Rental supply gains help cool pace of rent growth in 2024: CMHC

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Summary
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78% Informative

The Canada Mortgage and Housing Corp. says the pace of rent growth cooled significantly this year .

Canada ’s supply of purpose-built rental apartments grew 4.1 per cent year-over-year, the highest increase in more than 30 years .

The average rent for a two -bedroom apartment grew 5.4 per cent to $ 1,447 , compared with an eight per cent increase in 2023 .

VR Score

89

Informative language

94

Neutral language

70

Article tone

formal

Language

English

Language complexity

46

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not offensive

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not hateful

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short-lived

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