Why Rent?

Inflation update for Prince George 🏡🐾

Canada’s inflation ticked up again in December, but here’s the cat’s-eye view of what actually matters locally 👀

Homeowners in Prince George are finally seeing a bit of relief. Ownership-related housing costs slowed, with mortgage interest and utilities easing compared to last year. Not exactly a belly rub, but definitely less hiss than before 😺

Renters, though? Different story. Rents jumped 4.9% year over year — one of the biggest December increases since the late ’80s.

And about those headlines saying “rents are falling” 🧶
That’s usually talking about asking rents on vacant units. Stats Canada tracks what people actually pay. Two very different litter boxes.

What this means in Prince George:
• Owning is starting to look more stable than renting
• Long-term renters are still facing above-inflation increases
• The gap between renting and owning keeps widening

If you’re wondering whether it’s smarter to keep renting, buy sooner, downsize, or plan ahead for a move that won’t leave you chasing your tail — that’s exactly what I help with 🐾

Let’s talk it through, pressure-free.

Email: jasonlukehomes@gmail.com
Call or text: 250-301-9960

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