Market update August 2026: The more things stay the same...

There wasn't much movement in the Canadian property sector in July.

Rent growth remains relatively soft, which may limit the income landlords and property managers can achieve.

And the end may not be in sight just yet, as many renters still view affordability pressures as a major concern.

• Rentals.ca reports the national average asking rent reached $2,033 in June. That’s an increase of 0.2% from May – slightly stronger than the 0.1% month-on-month growth between April and May.

• In Ontario, average asking rents remained essentially flat, inching up from $2,229 in May to $2,233 in June.

• Meanwhile, the Canadian Real Estate Association (CREA) reports an average national home price of $696,078 in June – down 0.8% from May and up 0.5% year over year.

• Ontario reliably continues to have some of the highest average home prices in the country (second only to British Columbia) at $831,595 – down 1.9% from last month’s average.

• According to CREA, home sales volumes edged up 0.5% from May to June.

• The Canada Mortgage and Housing Corporation reports the six-month trend in housing starts was down in June compared to May, with a decrease of 2.8% to 248,123 units.