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

Perseverance Week raises more than $155,000 for Cumberland Community Forest Society

The Cumberland Forest’s Perseverance Week (Oct. 21-3, 2019) fundraising drive totals are… Continue reading

Musical feast celebrates Lunar New Year in Courtenay

Chai Found Music Workshop performs contemporary take on Chinese music Jan. 27

Quick response from Comox Fire Rescue saves two homes

Sunday afternoon (Jan. 19) Comox Fire Rescue received a report of a… Continue reading

Gas leak clears shopping centre in Courtenay

Fire department does not find smell source but turns up carbon monoxide traces

Hayashi Studio film looks at Cumberland’s hidden history

Film screens at festival Feb. 1, pre-screening is held on Jan. 23

VIDEO: Soldiers trade rifles for snow shovels to help dig out St. John’s

A state of emergency is set to extend into a fifth day

Power lines cut as thieves strike Vancouver Island veterinary hospital

‘Thankfully there weren’t any animals or staff in the clinic when this happened’

Warm ‘blob’ could be behind mass starvation of North Pacific seabirds: study

Unprecedented death toll raises red flag for North American marine ecosystems

ICBC to bring in ranking system for collision, glass repair shops

Change comes after the much-maligned auto insurer has faced criticism for sky-high premiums

Ocean literacy girls’ camp on Hornby Island now accepting registration

Learning retreat for young women ages 15 through 18

‘It was just so fast’: B.C. teen recalls 150-metre fall down Oregon mountain

Surrey’s Gurbaz Singh broke his leg on Mount Hood on Dec. 30

Vancouver Island Pride weekend returns to Mount Washington Alpine Resort

Building on the success of last year’s family-friendly pride festival on Vancouver… Continue reading

Scarlett Point lighthouse keeper wins a million bucks playing the lottery

“I usually just get a quick pick, so I didn’t expect to win a big prize”

Most Read