An apartment building rental office is shown in Toronto on Thursday, Dec. 1, 2011. Canada Mortgage and Housing Corp. says rental apartment vacancy rates last year hit their lowest level since 2002 after a third consecutive year of declines.The federal housing agency says the national vacancy rate for purpose built apartments was at 2.2 per cent, down from 2.4 per cent in 2018 for all bedroom types. THE CANADIAN PRESS/Nathan Denette

Rental vacancy rates last year hit lowest since 2002 after third year of decline

Vancouver’s dedicated rental vacancy rate was 1.1 per cent

Canada Mortgage and Housing Corp. says rental apartment vacancy rates last year hit their lowest level since 2002 after a third consecutive year of declines.

The federal housing agency says the national vacancy rate for purpose built apartments was at 2.2 per cent, down from 2.4 per cent in 2018 for all bedroom types. The vacancy rate in condo rentals was at one per cent, down from 1.4 per cent.

Vancouver’s dedicated rental vacancy rate was 1.1 per cent, Toronto and Montreal were at 1.5 per cent, and Halifax was one per cent, while vacancy rates for condos were 0.3 per cent in Vancouver and 0.8 per cent in Toronto.

Prairie cities saw much higher vacancies for dedicated rentals, including Regina at 7.8 per cent, Calgary at 3.9 per cent, and Winnipeg at 3.1 per cent.

Nationally, average rents increased by 3.9 per cent for a two-bedroom rental apartment as availability tightened, the fastest pace of same-sample rent growth since 2001.

Vancouver had the highest rent for a two-bedroom apartment at $1,748 after a 4.9 per cent average increase, while for Toronto it was $1,562 after a 6.1 per cent climb. Rents were much higher in condo rentals, averaging $2,476 for a two-bedroom in Toronto, and $2,045 in Vancouver.

The Canadian Press


Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Willow Point Elementary needs your vote

Library initiative vying for prize money in Follett Challenge

Friday is the deadline for students to get Bowl for Breath registration in

Calling all students – the 32nd Cystic Fibrosis Bowl for Breath needs… Continue reading

Citizen birders contribute to 120th annual Christmas Bird Count

Species tallied in Campbell River, Cortes and Quadra Islands and Port McNeill

Campbell River Museum hits the 15 year mark for its Used Book Sale

Book donations are now being accepted and can be brought to the Museum’s back door off of 4th Ave

Have your say on the regional composting facility in Campbell River

CSWM launches online survey, will host two public engagements at Maritime Heritage Centre

Victoria police arrest 12 anti-pipeline protesters supporting Wet’suwet’en

‘We are unarmed, they have guns,’ protesters chanted on Wednesday morning

Manitoba RCMP spent less than $800K on massive manhunt for Port Alberni men

Manitoba RCMP helped with 17-day search through the province’s northern terrain

Island Bakery in Cobble Hill to close

Cobble Hill store in business since 1982

Man killed by police in Lytton called 911, asking to be shot: RCMP

Howard Schantz, also known as Barry Schantz was killed following a standoff at his Lytton home

Canadian public health agencies ramping up preparations in response to new virus

Health officials have said there are no confirmed cases of the emerging coronavirus in Canada

‘Naughty boy’: Monty Python star Terry Jones dies at 77

The comedian has been suffering from a rare form of dementia

Four things ‘not’ to do if you run into Prince Harry and Meghan in B.C.

Here is a list of some things you definitely should NOT do, according to the BBC

Successful end to search for kayakers along the Island river

Father and son located tired and cold, but otherwise OK

Vancouver Island man arrested after police seize suspected illicit drugs in Nanoose Bay

Car impounded after Port Alberni driver clocked travelling at more than twice the posted speed limit

Most Read