Brampton apartment rents had biggest price drop in Ontario to end 2024: report [Video]

Brampton led the way with apartment rental price drops to round out 2024 with a more than 7 per cent decline in December compared to the previous year.

The average asking rents for all residential property types across Canada ended 3.2 per cent lower compared to the end of 2023, according to the latest National Rent report.

That led to a 17-month low average rental price of $2,109 in December, the reports says.

But in Brampton, average asking rents dropped more than double that number with a year-over-year decline of 7.1 per cent to $2,103 in December for a one bedroom rental and $2,338 for a two bedroom.

Richmond Hill followed closely behind at 7 per cent, the report says. Toronto – the country’s largest rental market – dropped to an average of $2,632.

Brampton ranked No. 8 most-expensive city to rent in last month, bookended by Burlington at No. …