On factor supporting prices is increases in rents. If cap rates stay the same, increases in rental fees can support share and unit prices, providing some protection from inflation - something that you do not get from today's other fixed income investment. This is the value of investing in hard assets.
CMHC publishes reports twice a year on the rental market including rents by province and market, and vacancy rates. In Ontario, rent increased by 2.4 % in markets greater than 10,000.
Canada wide, rents increased at a higher rate, supported by western provinces. The following table excerpt shows those provinces and the Canada-wide rent increase of 2.2%.