The annual rate of rent inflation in Canada remained in double digits for the eighth consecutive month in December, according to the latest rent report from Rentals.ca and Urbanation.

 The average listed rent for all property types increased 12.2 per cent year-over-year to $2,005, an increase of $217 from the December 2021 average of $1,788. 

On a month-over-month basis, average rents decreased by one per cent, which Rentals.ca notes is typical this time of year. This is the second straight month the average monthly rent has exceeded $2,000.

Markets with high population growth, low vacancy, and limited new rental construction will likely see the most rent inflation, with Atlantic Canada, Ontario, and British Columbia expected to lead the country in rent growth.