Immigration, difficulty purchasing, put rental vacancy rate at lowest level since 2001

The federal housing agency says the vacancy rate for such properties sat at 1.9 per cent last year, down from 3.8 per cent a year earlier.Sign up to receive the daily top stories from the National Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.

The tightening was stark in Vancouver, where the vacancy rate edged down from 1.2 per cent in 2021 to 0.9 per cent last year, and Toronto, which dropped from 4.4 per cent to 1.7 per cent. Montreal’s rental market reached 2.3 per cent from 3.7 per cent a year earlier and Calgary’s moved from 5.1 per cent to 2.7 per cent, the lowest level seen since 2014.

CMHC says such plunging vacancy rates weighed on the average rent for a two-bedroom purpose-built rental, which climbed 5.6 per cent to $1,258, and the average two-bedroom rental condo rent, which jumped nine per cent to $1,930.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Renters in Canada are facing the toughest market since 2001: CMHC report - National | Globalnews.caThe vacancy rate for purpose-built rental apartments declined to 1.9 per cent last year — the lowest level since 2001, according to the Canada Mortgage and Housing Corporation. Greedy landlords! Just starting, but bring more immigrants problem w'll solved
Source: GlobalNational - 🏆 81. / 51 Read more »

Rent prices grew at record pace in 2022 as Canada saw lowest vacancy rate in decadesRent prices in Canada grew at a record pace last year as the country saw the lowest vacancy rate since 2001, the Canada Mortgage and Housing Corp. (CMHC) said. more immigration, those are rookie numbers Lets keep increasing already ridiculously high numbers of immigrants. But of course Smdh
Source: CP24 - 🏆 30. / 67 Read more »