Homes for Rent: Increase in Inventory’s Effect on Price Points

Homes for Rent: Increase in Inventory’s Effect on Price Points

Seasonal rentals in Canada are a popular extra income stream for many. And if you love to travel to Collingwood, you enjoy having the flexibility a seasonal rental provides, especially if you only want to live in or visit the area for a few months out of the year.

Homes for rent used to abound in Collingwood and towns of similar size and scope. But today, an increase in demand for homes for rent and purchase in the area has led to a surge in real estate prices overall. Part of this high demand was fueled by the pandemic – Reuters reports that up to July 2020, roughly 75,000 people left Montreal and Toronto for other parts of Canada, the largest migration since 2001.

To keep up with this demand, construction has increased dramatically, spurring the influx of new small businesses but putting pressure on municipal resources. Specifically, rural starts in Canada in the first part of 2021 were at their highest point since 2008.

Homes for rent have become more available in recent months, but since demand is still at a high point, prices haven’t budged downward very much. While this is good news for seasonal rental owners, those looking to rent may have to grapple with a higher cost for their seasonal travels.

Whether you are looking for a seasonal rental for the holiday season or the coming spring, it’s best to start looking at homes for rent now. Contact us today to tell us more about your rental requirements and to learn how we can help you find the perfect seasonal rental.

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