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Red Deer rental prices up in December: National Rent Report

Red Deerians renting homes were paying more this past December than they were in the same month in 2020, according to the latest National Rent Report.

Red Deer average rent for all property types was up in December to $1,112 from $1,044 in December 2020, which was down from $1,072 in December 2019. Average rents in December 2018 in Red Deer were $1,100.

The average rent for all Canadian properties in December was $1,789 per month, up 3.8 per cent annually, said the report, which is put together by Rentals.ca and Bullpen Research & Consulting.

But for the first time since April, the average rent decreased month over month, falling 1.5 per cent from $1,818 per month in November.

“Although the real estate market has recovered in the last several months, uncertainty will persist as governments issue further lockdown measures because of the Omicron variant,” the report said.

“There is some consensus among experts that these lockdowns and restrictions will be much shorter than previous ones.”

The average rent in Alberta declined from $1,244 per month in the fourth quarter of 2020 to $1,233 per month in the fourth quarter of 2021.

The average rent for condo rentals and apartments in Alberta has basically remained unchanged since 2019, moving from $1,188 per month in 2019, to $1,219 per month in 2020, to $1,199 per month in 2021.

Calgary finished 26th on the list of 35 cities for average monthly rent in December for a one-bedroom home at $1,221 and for average monthly rent for a two-bedroom at $1,516.

Year-over-year, average monthly rent in Calgary in December increased 2.4 per cent for a one-bedroom and 2.7 per cent for a two-bedroom. Month over month, average rent decreased in December by 1 per cent for a one-bedroom and by 2.3 per cent for a two-bedroom.

Calgary average rent for all property types increased slightly in December to $1,411 from $1,374 in December 2020, which was down slightly from $1,386 in December 2019. Average rents in December 2018 in Calgary were $1,470.

Meanwhile, Edmonton average rent for all property types decreased slightly in December to $1,181 from $1,209 in December 2020, which was up from $1,165 in December 2019. Average rents in December 2018 in Edmonton were $1,232.

The average rent for condo rentals and apartments in Alberta has basically remained unchanged since 2019, moving from $1,188 per month in 2019, to $1,219 per month in 2020, to $1,199 per month in 2021.



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