StatCan, Rentals.ca announce new tool to track the rental market in Canada

Rentals.ca has introduced that it’s partnering with Statistics Canada to develop a brand new index to trace traits within the Canadian rental housing market.

For the brand new tracker, referred to as the Rental Market Industry Index, Rentals.ca might be offering Statistics Canada with listings knowledge from its platform, whereas the federal statistics company might be accountable for evaluation and aggregation.

Rentals.ca mentioned it hopes the index might be “a comprehensive and reliable resource for the rental housing industry and beyond.”

“In supplying rental housing pricing data to Statistics Canada, we take the responsibility very seriously and we feel that this partnership further solidifies and validates our leading position and authority on asking rent data across Canada,” mentioned Max Steinman, CEO of Rentals.ca dad or mum firm Rentsync, in a news launch Thursday.

“Through this new partnership, we’re able to get data into the hands of institutions, and help policymakers, developers, and the Canadian public as a whole to make more informed decisions to help tackle the rental housing supply crisis.”

Rentals.ca is a rental housing listings platform that presently boasts greater than 47,000 listings throughout Canada. The web site can be identified for its month-to-month nationwide hire reviews, monitoring the common value of listings on the platform in every metropolis and for every kind of housing.

In December, Rentals.ca mentioned the common asking value for one-bedroom house in Canada averaged $1,931, marking a 0.29 per cent improve from the earlier month and a 13.28 per cent improve from the earlier yr. Vancouver was as soon as once more the most costly metropolis in Canada, with the common value of a one-bedroom listed at $2,866, whereas Burnaby, B.C., Toronto and different cities within the Greater Toronto Area adopted have been shut behind.