The vacancy rate continues to be below one per cent in Victoria and rental prices have gone up.
A report by the Canadian Mortgage and Housing Corporation shows the vacancy rate is 0.7 per cent while rental prices increased 8.2 per cent in October.
The rental price increase was the second largest in Canada behind only Kelowna at 8.6 per cent.
The average for a two-bedroom rental in Victoria is $1,288, third highest nationally behind Vancouver ($1,552) and Toronto ($1,404).
You can find the full report here.