Burnaby's rental prices have increased again, according to a new report.
According to Rentals.ca's May report, a one-bedroom rental is averaging $2,330, up 3.2 per cent compared to the month prior. A two-bedroom remains at more than $3,000 with an average of $3,230, an increase of 2.9 per cent.
Burnaby is the third most expensive market to rent from in Canada, behind Toronto at number two and Vancouver maintaining the top spot with a one-bedroom average of $2,787 and $,3,741 for a two-bedroom.
Provincially, B.C. is still the priciest province to rent with an overall average of $2,468.
Rentals.ca says a studio rental in B.C. is averaging $1,900 — $2,149 for a one-bedroom, $2,746 for a two-bedroom and $3,283 for three.
When it comes to buying a home in Burnaby, the Real Estate Board of Greater Vancouver's April report showed residential properties hit $1,114,900 in Burnaby East (+0.4 per cent compared to March of this year), $1,002,900 in Burnaby North (+2.5 per cent) and $1,100,200 in Burnaby South (+2.3 per cent).
Single-family detached homes saw benchmark prices of $1,749,700 in Burnaby East (+1.3 per cent), $1,933,700 in Burnaby North (+3.0 per cent) and $2,145,800 in Burnaby South (+3.6 per cent).
