National Rental Vacancy Rate Remains Unchanged
By Tal Klachook
September 25, 2014
September 25, 2014
The average vacancy rate across Canada is 2.7 per cent — unchanged from last year — according to the latest stats from Canadian Mortgage and Housing Corp. (CMHC).“The stability of the national vacancy rate is due to supply and demand factors,” says Bruno Duhamel, manager of economic and housing analysis.According to CMHC’s Rental Market Survey for April 2014, Calgary and Edmonton have the lowest vacancy rates, both at 1.4 per cent—outdoing Vancouver’s 1.8 per cent and Toronto’s 1.9 per cent.
While the national vacancy rate remained the same, the average rent for a two-bedroom apartment increased to $930, up from $911 last year.Vancouver remains the city with the highest average rental rate for a two-bedroom apartment, at $1,274. As the second runner-up, Calgary has the second highest rental rate at $1,267, followed by Toronto at $1,241. The city with the lowest rental rate for a two-bedroom apartment is Saguenay at $562.
While the national vacancy rate remained the same, the average rent for a two-bedroom apartment increased to $930, up from $911 last year.Vancouver remains the city with the highest average rental rate for a two-bedroom apartment, at $1,274. As the second runner-up, Calgary has the second highest rental rate at $1,267, followed by Toronto at $1,241. The city with the lowest rental rate for a two-bedroom apartment is Saguenay at $562.About Tal Klachook
Tal Klachook is a journalism student at Carleton University. She is currently an Editorial Intern at Yellow Pages NextHome. Obsessed with all things related to cakes and social media, she enjoys learning and writing about the latest real estate trends.