The Globe and Mail reports in its Tuesday, Jan. 13, edition that asking rents in Canada dropped 2.3 per cent year-over-year in December to an average of $2,060, marking a year of declines and the lowest prices in 30 months. December, 2025, marked the 15th consecutive month of declining average asking rents, according to Rentals.ca and Urbanation's latest report. A Canadian Press dispatch to The Globe reports that when measured across the full year, average asking rents in Canada declined 3.1 per cent in 2025, which was a larger annual drop than during the COVID-19 pandemic. Rents are down 5.4 per cent compared with two years ago but still 14.1 per cent higher than prepandemic levels in December, 2019. Urbanation president Shaun Hildebrand says the demand and supply factors that were pushing rents higher between 2022 and 2024 reversed last year. "A combination of record-high apartment completions, population growth slowing down, economic uncertainty, and affordability challenges has worked together to push down rents," Mr. Hildebrand said in a press release on Monday. "Looking ahead, rents are likely to continue trending down in the near-term as these conditions persist."