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Apartment rental prices still climbing steadily

One bedroom apartment in Oshawa now average around $1,100

By Dave Flaherty/The Oshawa Express

A recent report of apartment prices in Oshawa yields some bad news for renters.

The report, released last month by apartment listing website PadMapper, shows that the average rent for a one bedroom apartment in the city was $1,100.

This represents a decrease of 3.5 per cent from the previous month, but a 5.7 per cent increase from September 2017.

Overall, Oshawa fell out of the top 10 most expensive cities in Canada to 11th place.

Toronto is the most expensive city to rent a one bedroom, with an average price of $2,200, while Vancouver rates second at $2,050. Burnaby, B.C., Montreal, and Barrie round out the top five.

Despite falling out of the top 10, Oshawa still is still more expensive than cities such as Edmonton, Calgary, Halifax, Regina, Quebec City, and London.

The average price for a two-bedroom apartment is $1,360 in Oshawa, up 4.6 per cent from August, and 12.4 per cent over the previous year.

In comparison to November 2016, the average rent for a one bedroom has increased by $130 and a two bedroom by $90.

The previous Kathleen Wynne provincial government introduced the Rental Fairness Act in 2017. It restricts rent increases to 1.5 per cent and closed certain loopholes that allowed for larger rent increases in connection to the age of a building.