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

Warriors introduce new leadership core, look for bounce back after Friday loss

West Kelowna’s three-game winning streak ended Friday with a 6-3 loss

‘It’s still early’: Flu rates down so far this year at Interior Health

At Kelowna General Hosptial, there have been about 50 confirmed cases

Undermanned Rockets come close in 1st game of road-trip with 3-2 loss to Silvertips

Kelowna continues the three-game stretch Saturday night in Portland

Kelowna’s last video store, Leo’s Video, to remain open despite failed sale

Kelowna’s last video rental store will remain open and under its namesake’s ownership

Two-vehicle collision slows traffic on Highway 97

Harvey is down to two lanes heading east past Dilworth is closed while crews clean up

Canada to bolster screening of central China passengers for virus at 3 airports

Additional measures will include messaging on arrivals screens in Toronto, Montreal and Vancouver

Horgan cancels event in northern B.C. due to security concerns, says Fraser Lake mayor

The premier will still be visiting the city, but the location and day will not be made public

B.C. landlord sentenced to two years in jail for torching his own rental property

Wei Li was convicted of intentionally lighting his rental property on fire in October 2017

B.C. town spends $14.14 per resident for snow removal in one month

Costs of snow removal to the Town of Princeton skyrocketed in December.… Continue reading

PHOTOS: Eastern Newfoundland reeling, search underway for missing man after blizzard

More than 70 centimetres of new snow fell overnight, creating whiteout conditions

Prince Harry, Meghan to give up ‘royal highness’ titles

‘Harry, Meghan and Archie will always be much loved members of my family,’ says Queen Elizabeth II

Photo reminds Salmon Arm resident of connection to former drama teacher Justin Trudeau

Prime minister remembered as being as a funny, larger-than-life person

Province says it is monitoring AIM’s road maintenance

The provincial transportation ministry is working closely with new road contractor AIM,… Continue reading

B.C. society calls out conservation officer after dropping off bear cub covered in ice

Ice can be seen in video matted into emaciated bear cub’s fur

Most Read