How Nova Scotia became Canada’s most expensive province for average asking rents

In Halifax, a one-bedroom apartment is listed for rent at $1,750 a month, located in a three-storey building on Tower Road, about three blocks east of Dalhousie University. 1, the unit of just over 500-square-feet is one of the more affordable options within walking distance of the school currently advertised on the Rentals.ca network. Other comparable spaces hover around the $2,000-mark or even higher.

Just five years ago, that would’ve gotten you a two-bedroom in the city. The average listing price for a single bedroom in September 2021 sat at $1,574 in Halifax, and $2,041 for a two-bedroom. Real estate watchers in Nova Scotia say rapidly rising rental prices show no sign of slowing down.

They point to various factors, ranging from lack of tenant protections to high operating and construction costs. “Nova Scotia rents have risen every year since 1990, but the pace has really stepped up sharply since 2019,” said Rentals.ca spokesperson Giacomo Ladas. While British Columbia and Ontario have long held a reputation as some of the priciest real estate markets in Canada, Nova Scotia is now also at the forefront — especially for renters.

as the province with the highest average asking rents for apartments and condos, according to a monthly analysis from Rentals.ca and Urbanation, which is based on listing prices across the former’s network. The Atlantic province has now held that title for four straight months, with landlords’ average ask reaching $2,356 in August. That marked a year-over-year increase of 3.1 per cent, even as the national average dropped 4.8 per cent, continuing a two-year fall.

Advocates say affordability is being held back by rules that place tenants at a disadvantage, with the balance of power tilted in property owners’ favour. For Mark Culligan, a community legal worker at Dalhousie Legal Aid Service, it comes down to two intertwined variables: Nova Scotia’s system of fixed-term leases, which do not automatically renew beyond a set end date, along with the province’s five per cent rent increase cap. “That makes for an incredible vulnerability for tenants and especially new tenants,” said Culligan.

“In Nova Scotia, unlike other provinces, the tenant has no right to renew. So once that end date happens, it’s just up to the landlord to determine whether or not they’re going to offer a new lease.…