Victoria is now one of the most expensive rental markets in the country, pushing renters and potential homeowners to reconsider their futures on the Island.
Rent for the average Greater Victoria two-bedroom apartment that saw tenant turnover in 2022 rose by a third, CMHC’s annual rental market report shows.
New rental units coming onstream will have difficulty keeping up with demand, which has increased as those who are able to work remotely flock from larger centres to Victoria