Behind the Numbers: Looking Back on Rental Trends of 2023

Dec 18, 2023

In this episode, we take a look back at 2023 and the rental trends reported by Rentsync and Rentals.ca. The Canadian housing market seems to be setting and breaking records each day, but does the good outweigh the bad? To help us make sense of Rentals.ca and Urbanations's report, we are joined by three of its influential contributors; the Product Manager of Data Services at Rentsync, David Aizikov, the CEO of Rentsync, Max Steinman, and the President of Urbanation, Shaun Hildebrand. The trio is here to walk us through their findings, which include the steady of flow new rental trends that have played out throughout the year, supply and demand numbers, the undeniable national crisis relating to the cost of living, and the possible impact that reduced housing may have once it enters the market from 2024 onwards. We also learn about the hidden opportunities of affordability, the fears that most prospective homeowners share, the communal relief that rent and housing is top-of-mind for mainstream media and policy-makers, and what renters and landlords can expect from the market in 2024 and beyond. 

 

Key Points From This Episode:

 

• Introducing three key compilers of Rentals.ca and Urbanations's annual rental report, David Aizikov, Max Steinman, and Shaun Hildebrand.
• Assessing the consistency of new rental trends that we've witnessed throughout the year.
• Supply and demand numbers, and the factors that affect them.
• The cost-of-living crisis. 
• Exploring the possible impact of reduced housing's addition to the supply in 2024. 
• Whether the softening of demand and leveling of rents is closer than we may realize. 
• Community upliftment and other opportunities of affordability.
• The fears of a prospective homeowner.
• What it means for housing and rent to be at the top of policy-making agendas. 
• How landlords and renters ended up understanding the other's perspective.
• What renters and landlords can expect from the market in 2024 and beyond. 

Listen to the episode wherever you get your podcasts, Apple, Google Podcasts, or Spotify.