Published on June 1, 2022 at 3:40 p.m.
Rent in Burlington is the third highest of any city in Canada and Mayor Marianne Meed Ward thinks she knows at least part of the reason.
Speaking exclusively to Insauga.com Editor Khaled Iwamura on Instagram Live yesterday (Tuesday), Meed Ward said new construction in Brampton was a contributing reason.
“We’ve had a lot of new buildings built and I think that’s contributing to that,” Meed Ward said.
“We have lost some of our older rental stock to redevelopment, which would be protected by rent control. We are seeing a lot of new units, which is good news, but these are market priced. »
Rentals.ca’s report showed the average cost of a one-bedroom apartment in Burlington in April was $2,017, up nearly 16% from a year ago. The cost, however, remained unchanged from March.
Two-bedroom units also jumped, up 11.76% from the same month last year to $2,261.
According to the report, rents in Burlington are the third highest in the country, behind only Vancouver and Toronto, but ahead of places like Oakville, Ottawa and other major Canadian cities.
“Our vacancy rate is something that we are starting to reduce. Previously, we had a very low vacancy rate and this is a challenge for people who need this type of housing.
“Almost all of our development in Burlington has been in apartment form.”
More affordable housing remains an important topic of discussion at all levels of government.
insauga editorial standards and policies