Montreal rents going up? In this economy? A report suggests it’s happening

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Montreal has bucked a trend among Canada’s major cities and seen rents increase during this annus horribilis, a report from rentals.ca suggests.

The report notes that the national average rent for properties listed on the site declined by 9.1 per cent between November 2019 and November 2020, whereas rents in Montreal were up three per cent in November 2020, following a 15 per cent rise in November 2019. The increase was even more pronounced for some rental types in Montreal, such as one-bedroom units, which saw a nine per cent increase over the last year. (Insofar as not every rental property is listed on the site, these calculations may not be entirely representative.)

“Montreal remains a bright spot for landlords in Canada,” the report notes.

According to the site’s forecast for the coming year, conducted with Bullpen Research & Consulting, that dynamic isn’t going to change.

They’re predicting Montreal will experience a further six per cent increase in rents next year.

The one silver lining here is that even with increases, average rents in Montreal remain lower than those in Toronto or Vancouver.