After eight years of Justin Trudeau, housing across Canada has become more and more unaffordable and the problem is continuing to worsen. The August 2023 Rent Report from Rentals.ca shows that rents continue to rise in nearly every major market across the country with no sign of letting up.
Nationally, rents are up 8.9% in the last year with an increase of 1.8% in just the last month. In the last two years, average rents in Canada have shot up 21%. This amounts to an extra $354 per month or an extra $4248 each year.
Many of Canada’s cities are seeing increases substantially greater than the average. The rent for an average one bedroom apartment in Vancouver has seen an increase of 16.2%, in Toronto 13.4%, in Mississauga 20% and in Brampton an astonishing 25.5%.
In fact, after eight years of Justin Trudeau the average rent in Canada has doubled and according to Rentals.ca now sits at $2078.
It isn’t just renters that are hurting. Since 2015 the average monthly mortgage payment has increased 137%, while the minimum down payment for the average home has increased 126%, raising the barriers for any renter who wants to achieve the dream of home ownership.
After years of telling Canadians that he was going to make homes more affordable, Justin Trudeau now claims that housing is not his responsibility as he seeks to run away from his failed record.
Common sense Conservatives will take action where Justin Trudeau has failed, we will remove the gatekeepers that prevent home building and we will bring homes Canadians can afford.