Nova Scotia becomes Canada's most expensive province for rent

Nova Scotia has become Canada’s most expensive province for average asking rents, overtaking British Columbia for four consecutive months. According to analysis from Rentals.ca and Urbanation, the average landlord ask in the Atlantic province reached $2,356 in August.

This represents a 3.1 per cent year-over-year increase, contrasting with a 4.8 per cent drop in the national average. In Halifax, rental costs have climbed significantly; for example, a one-bedroom apartment that averaged $1,574 in September 2021 is now frequently listed near or above $2,000.

Experts and advocates attribute the rising costs to several factors, including high construction and operating expenses, as well as a lack of tenant protections. Critics argue that current regulations tilt the balance of power in favor of property owners, further impacting affordability.