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

WATCH: Don’t just blame AIM, all North Okanagan road crews struggling

City streets are just as bad, if not worse, than highways

Several deer spotted in Vernon’s BX

One resident spotted a herd of seven in her neighbourhood

More snow in forecast for Vernon

Regional District of North Okanagan reminds residents to stay safe during winter storms

Vernon contractor owes company $105K for unpaid work in Yukon

Judge awards Nuway Crushing Ltd. for 2018 work on Haines Highway in Yukon

Ditched vehicle off highway sends Vernon crews on multiple calls

Vernon Fire Rescue Services has had repeated calls about the vehicle between Vernon and Kelowna

Kids across Canada more at risk of hospitalization from flu this season: doctor

Dr. Theresa Tam said influenza B does not usually peak until February or later

Woman convicted in Salmon Arm love triangle murder granted escorted temporary absences

Monica Sikorski was 17 when she plotted shooting death of 22-year-old Tyler Myers

Oliver Health Centre celebrates expansion of ER

B.C.’s Minister of Health was in Oliver for the official opening of the improved emergency department

New book released on the untold Indigenous history of Revelstoke

Swift River is Laura Stovel’s fourth book

B.C. offers $5 million equipment loan program to help ailing forest contractors

Local politicians in Port McNeill and Campbell River says local economies are struggling

Harlem Globetrotters’ Hops Pearce is pumped to bring show to Penticton

Less than two weeks to get your tickets to see Globetrotters’ high-flying stunts

Vancouver Island distillery wins award for best Canadian rye whisky

Shelter Point cleans up at Canadian Whisky Awards

Kelowna hotel to award couples for baby-making with Nooner deal

The deal includes a free stay every Valentine’s Day for the next 18 years

MITCHELL’S MUSINGS: Ethical errors proving costly for baseball

Paltry punishment, gag orders opposite of what’s needed; house cleaning, real justice in order

Most Read