According to Rentals.ca and real estate research firm Urbanation, the Canadian market continued its upward trajectory with data suggesting a monthly increase of 1.5 per cent from August, and an annual surge of 11.1 per cent.

Experiencing double-digit year-over-year growth, the annual rate of rent inflation surged to its highest point in nine months, stated the report.

In terms of rental types, one-bedroom units recorded the fastest annual growth in asking rents, soaring by 15.5 per cent, reaching an average of $1,905.

Although month-over-month average rent prices in Toronto did not change significantly, this city still has the second-highest asking rate at $2,902.