Rental prices in Canada have surged during Trudeau's tenure as Prime Minister

January 26, 2024

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After eight years under Trudeau's leadership, renting a place in Canada has become increasingly expensive. Since Trudeau assumed office, the cost of rent has doubled, making housing affordability a significant challenge in many of our urban areas.

Last week, published a report shedding light on the failures of the Liberal government to ensure affordable rents in Canada. In December, the average rental rates for all types of residential properties in Canada skyrocketed, reaching a record-high of $2,178 by December 2023. This represents an 8.6% increase compared to the same month in 2022.

What's even more concerning is that over the past two years, rental prices have surged by a total of 22%, which amounts to an average monthly increase of $390. Such steep hikes are unsustainable for most Canadians. People living in British Columbia are grappling with average rental rates of $2,500, while Ontarians are facing monthly costs of $2,446.

This escalating cost of living crisis has left Canadians in a difficult position, having to make tough choices between paying their rent, buying groceries, and keeping their homes warm. The only viable solution to this affordable housing crisis is for the Liberal government to initiate a substantial home-building effort. However, Trudeau has stated that housing is not a "federal responsibility," and even his Canada Mortgage and Housing Corporation has confirmed the absence of any plans to address the housing needs of Canadians.

As a direct consequence of Trudeau's lack of action, Statistics Canada reports that between January 1 and November 30, 2023, there were 17,561 fewer houses built compared to the same period the previous year. Trudeau's Housing Minister seems to be out of touch with the fact that Canadians cannot live on political photo opportunities alone.

The only political group with a practical plan to increase home construction, rather than bureaucratic expansion, is the Common Sense Conservatives. They aim to provide homes that Canadians can actually afford.