RTB Report: Evictions Decline as Average New Rents Rise

According to the Residential Tenancies Board, the number of formal notices of termination issued by landlords dropped significantly as the average rent for newly registered tenancies continued to climb. The state rental regulator published new figures detailing the shifting landscape of the housing market, showing a notable deceleration in eviction notices alongside upward price pressures for incoming occupants.

The latest quarterly data released by the Residential Tenancies Board shows that landlords filed fewer notices of termination compared to previous reporting periods. Housing market observers note this decline provides a temporary respite for occupiers facing strict supply shortages across urban and regional centers. Regulatory oversight remains tight as officials track compliance with statutory notice periods and valid grounds for ending lease agreements.

Rising Costs for New Tenants

Even as notices fell, the average rent for newly registered tenancies maintained an upward trajectory according to the Residential Tenancies Board. Incoming occupants face higher monthly outlays when securing fresh leases in the current market environment. Property economists attribute these persistent increases to a chronic structural deficit in available housing units relative to steady population demand.

Market analysts point out that turnover costs significantly outpace broader consumer price inflation in many regions. Landlords entering new agreements continue to price units at current market rates, leaving prospective occupiers with limited affordable choices. The data highlights a persistent divergence between the volume of legal tenancy terminations and the financial burden placed on those newly entering the rental pool.