AVAILABLE RENTAL HOUSING NUMBERS DECREASING AS PRICES RISE

Nov 28, 2018

By Michael Kramer

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Canada Mortgage Housing Corporation says the overall rental housing vacancy rate has dipped to 2.4 per cent – from three per cent last year – and that’s the second straight decline – with demand for rental housing growing at a faster pace than supply.

The news is part of C-M-H-C’s annual rental market survey – which found that the number of occupied units increased by 2.5 per cent last month – compared with an increase of 1.9 per cent – in the same month last year.

The report looked at purpose-built rental units and condo apartments available for rent – and also found that the average rent for a two-bedroom apartment jumped by 3.5 per cent year over year. That’s higher than the inflation rate during this period.

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