By: Reanesh Kanaganayagam
Date published: May 12, 2021
Kijiji’s Rental Trend Report for April puts a focus on the performance of Canada’s most populous province: Ontario. As always you can find the national and regional Kijiji Rental Trend Reports for download here.
In April 2021, over 61K new properties in Ontario were listed into Kijiji Real Estate’s For Rent category.
Engagement from users in Ontario stayed consistent month over month with 490K email replies, phone reveals and URL clicks compared to March’s 495K.
The Real Estate category saw Kijiji users from Ontario get more serious about their search for their next home, establishing yearly highs in ‘Return visits per user’ and ‘Time spent per user’:
In March 2021’s Rental Trend Report we observed that Toronto experienced a 10% year-over-year decline in rent/month when compared to March 2020. The YoY trend continued into April 2021 with a 12.8% decline when compared to April 2020 – reflecting the initial shock the city experienced last spring in response to COVID-19.
In this report, we’re also taking a look at the month-over-month change from March to April 2021 – where there appears to be a shift in prices of two-bedroom homes across Ontario. 4 of the 5 most expensive cities to rent a two-bedroom property – Toronto, Hamilton, Barrie and Ottawa – all increased by at least 2% MoM while Guelph remained flat.
Expanding beyond two-bedrooms and including all property types across the province of Ontario, there is less of a noticeable pattern. The largest swings in price occurred outside the Greater Toronto Area:
It’s been about fourteen months since the first lockdown in Ontario. While the province continues to face some unevenness in its return to normalcy, residents (and those searching from out of province) are clearly showing interest in new properties for rent: