Tucked between the electric rue Sainte-Catherine O. and congested René-Lévesque, rue Tupper is a street that time forgot. Largely untouched by modern developers, it sits hidden among the unfriendly concrete towers of Montreal's Shaughnessy Village. Instead, passersby on the narrow residential street will find colourful two-storey townhomes, stained glass windows and flamboyant masonry. And one of its classic Montreal homes is now for sale.
After a brief dip that may have brought hope to the hearts of Montreal renters, the average rent in the city has once again surpassed the $1,500 mark, according to a report released by liv.rent. For furnished apartments, the average is even higher at $1,683.
For only the second time this year, Montreal's average rent for a one-bedroom apartment has decreased, this time by $20, according to a report released by liv.rent. Earlier in the year, the price reached just over $1,500, but changes in August brought the average back down to just under that figure.
Housing markets across Canada could see a substantial price drop by early 2023, according to a new TD Bank report. Home buyer behaviour during the pandemic has shifted as people move toward remote work and away from city centres, causing a shock wave of price growth in smaller markets and fast deflation in major ones.