Average asking rents fall 3.2% to $2,036 in October, but Toronto and Vancouver prices start to rise Average asking rents in Canada fell 3.2% year-over-year to $2,036 in October, the smallest decline since February, but Toronto and Vancouver rents are beginning to rise amid declining supply. The average asking price for a rental unit across Canada in October was $2,036, down 3.2 per cent compared with a year ago, according to a monthly report from Rentals.ca and Urbanation. This decline is the smallest year-over-year drop since February, when rents were down 2.8 per cent from the same month a year earlier. Average asking rents have now fallen year-over-year for 25 consecutive months, with prices down 5.4 per cent compared with two years ago, reaching their lowest October level since 2022.Toronto Vancouver Rent Prices RiseUrbanation president Shaun Hildebrand says the window for cheaper rents is closing in Toronto and Vancouver as prices are starting to rise for the first time in nearly three years amid declining supply. Hildebrand says renters still hold the advantage in Calgary, Edmonton and much of Ontario, where prices continue to fall. Asking rents for purpose-built apartments fell 2.1 per cent year-over-year to an average of $2,040 last month. Asking rents for condominium apartments decreased 5.5 per cent to $2,048.BNN Bloomberg published its latest business and consumer news coverage on November 05, 2026 at 3:58 p.m. EST. That day's coverage included the Carney government tabling Budget 2026, adding $142-billion in new spending to spur economic growth and address affordability. Other Budget 2026 stories included six smaller things in the budget that will affect Canadians, and former opponents excited for a Huskies playoff run as teammates.Other news that day included a Toronto bar that could lose its liquor licence for 60 days after a patron who was served 14 large beers died, a fence turning a popular Cougar Ridge pathway into a road to nowhere, and a new health strategy aiming to improve menopause care in Alberta with the comment that we have a long way to go. Rural Alberta shared urban concerns over electoral boundaries, and Halifax small businesses looked for relief in the federal budget.Local Court Rulings and Police ChargesA judge upheld a ban on an Iroquois Falls man from speaking with council and staff directly. Police dismantled a $4.8-million London grow operation and charged 23 people. A new carpet lift will be ready for beginner skiers and snowboarders ahead of the 2026/27 season at a local resort. Windsor dancers were headed to an elite global ballet competition.El Niño raised coastal flooding concerns as sea levels climb around Vancouver Island. Delta Air Lines must face a lawsuit over window seats that have no windows. All infants should be vaccinated against Hepatitis B, an immunization advisory committee said. One in three teens face dating violence and doctors should be on alert, the pediatric society said.Russell Brand Found Guilty of RapeComedian Russell Brand was found guilty of rape and faces jail time. In entertainment news, Lady Gaga, Shakira, Jack White and Boy George led the 2027 Songwriters Hall of Fame nominees. The Met Gala exhibit will examine everyday items of clothing, replacing the scuttled Galliano show. LIV Golf is winding down operations, a lawyer said in a bankruptcy hearing.Shell drove a spike in oil exploration bids off the coast of Newfoundland. A woman who loved painting watercolours of Paris moved there when she was 72. Coverage also examined what is behind the population decline of one of Canada's most iconic birds. Another story looked at how an endangered Hawaiian bird scrounges its prey out of tree trunks.Canadian astronaut Joshua Kutryk began his second spacewalk. The rent figures from Rentals.ca and Urbanation reflect asking prices and are not a measure of actual rents paid by tenants.