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

Car failing to yield at new stop sign causes three-car crash and flaming aftermath

A Monday afternoon multiple-car collision saw no serious injuries reported to police

VIDEO: Fraser Valley Bandits super fan celebrates 100th birthday

Abbotsford resident Gladys Sautter surprised by Bandits representatives on big day

Low-cost bicycle repair shop opens in Cloverdale

Cloverdale Community Cycles starts up in church parking lot

Cat rescued from 100-foot tree near Fort Langley

Curtis had scrambled to the top and had been stuck there for days

Public gets chance to name Langley bear cub

The fundraising contest at Critter Care runs to June 22

Facing changes together: Your community, your journalists

Thanks for helping the Langley Advance Times to continue its mission to provide trusted local news

George Floyd asphyxiated by sustained pressure: family autopsy

Death sparked a wave of protests across the U.S. and abroad

Suspect sought in alleged assault, hate crime on Metro Vancouver bus: transit police

The woman then allegedly punched the teenager in the head multiple times

COVID-19: B.C. commercial landlords can’t evict if they decline rent assistance

Emergency order ‘incentive’ for federal program, Carole James says

B.C. Hockey League prepping for 2020-21

League reviewing different scenarios and start times in compliance with provincial regulations

Investigators probe death of CN employee at Surrey rail yard

Transportation Safety Board is investigating an ‘occurrence that took place during switching operations’

Abbotsford International Airshow opening 50-year-old time capsule

Bronze time capsule was put together to commemorate AIA as Canada’s National Airshow

Trans Mountain starts B.C. leg of pipeline twinning project

Mostly finished in Alberta, Burnaby terminal expanding

Most Read