Toronto and Vancouver asking rents dipped to their lowest average price since 2022 this November, a new report has found.

Nationally, listed rents reached their lowest point since 2023.

Toronto monthly prices averaged $2,521, with one-bedrooms costing $2,222 and two-bedrooms costing $2,828, according to the national rent report by Rentals.ca and Urbanation.

Prices for one-bedroom apartments dipped just 0.3 per cent compared to the month prior, but they were down 6.4 per cent compared to the same time last year.

Two-bedroom apartment prices dipped 0.8 per cent compared to the month prior, but they were down 8.5 per cent from the same time last year.

Giacomo Ladas, associate director of communications at Rentals.ca , said analysts are confident prices will continue decreasing on a y

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