Yes, Burnaby is still one of the most expensive cities to rent from in Canada.
However, according to Rentals.ca's March report, the average cost for a one-bedroom suite in the city was $2,282 — down five per cent from January.
Meanwhile, a two-bedroom unit averaged $3,175, which was an uptick of 2.7 per cent from February.
Burnaby's averages put them as the third-highest city in the country behind Toronto and Vancouver.
At the provincial level, B.C. has the highest rental price averages with a studio apartment hitting $1,804, $2,076 for a one-bedroom, $2,802 for a two-bedroom and $3,233 for a three-bedroom for an overall average of $2,449.
When it comes to purchasing in Burnaby, February saw a different story compared to recent months, recent data from the Real Estate Board of Greater Vancouver (REBGV) showed.
Residential housing hit a benchmark price of $1,102,900 in Burnaby East (+2.2 per cent compared to January of this year), $963,600 in Burnaby North (+0.9 per cent) and Burnaby South came in at $1,060,000 (+0.7 per cent).
A single-family detached house was recorded at $1,729,700 in Burnaby East (+3.4 per cent), $1,841,100 for Burnaby North (+0.8 per cent) and almost $2 million in Burnaby South at $1,997,200 (+0.4 per cent).
Townhouses in Burnaby also got a little more expensive with Burnaby East rising to $874,700 (+0.5 per cent), $892,100 in Burnaby North (+2.4 per cent) and $966,500 in Burnaby South (+1.9 per cent).
Areas covered by the REBGV include Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver and Whistler.
