Jonathan Juha, London Free Press:
Aside from being a seller’s market, London is also becoming a landlord’s one, with the vacancy rate in the city sitting at an 18-year low and average rents continuing to increase. According to apartment-hunting website PadMapper, which surveys the price of active listings in major cities across Canada, the average cost to rent a one-bedroom apartment in the city went up by about 8.9 per cent compared to last year and is now sitting at $980 a month. In November 2016, the average was $800.
More notably, perhaps, is the price of two-bedroom units, which has soared by 15.5 per cent over the same period and is now $1,190 a month.