New Brunswick will keep its rent cap at three per cent for the 2025-26 fiscal year.
The province says the cap is meant to limit big spikes in rents and the displacement of tenants.
Housing Minister David Hickey said they have seen a recent increase in the number of rental units in the province.
However, he noted that tenants are still encountering low vacancy rates and rising rent prices.
“We’re keeping the rent cap in place for this fiscal year to help provide stability and to give us more time to address the issues driving these challenges in the market,” Hickey said in a news release.
The cap is subject to an annual review by the province, with the next one scheduled for May 2026.
It will also be considered as part of the ongoing review of the Residential Tenancies Act.
“This is the stability renters in New Brunswick need after a 40 per cent increase in rent over the past six years,” said Hickey.
The rent cap was announced late last year and took effect in February.
