[homeles_ot-l] Correction- Ottawa, Ontario & Canada - Rental Market CMHC Spring 2012-Highlights

[Lynne Browne]

Correction: note Ottawa has 4th highest rents.

 

CMHC’s Rental Market Report April 2012 released today- Ottawa, Ontario & Canada information:

 

Ottawa (the Ottawa part of Ottawa-Gatineau)

2.1%                  Vacancy rate

$1,104               Average rent for a 2-bedroom apartment

 

Ottawa has the 4th highest rents in Canada:

Vancouver      $1,210

Toronto            $1,210

Calgary             $1,113

Ottawa             $1,104

Victoria             $1,046

Edmonton       $1,036

Only these major centres in Canada have rents over $1,000 per month for a 2-bedroom apartment. Ottawa’s vacancy rate was 1.8% in the spring of 2011. CMHC notes that rents in new structures will be higher. 

®     ATEH points out that those Ottawa renters who have low to modest incomes are likely to continue facing challenges since new rental housing is found mainly in newly built condo buildings. These units are being rented by individual investors at the higher cost end of the rental market.

 

Ontario

The average vacancy rate in Ontario is now 2.3% down from 2.5 in the spring of 2011. Ontario’s average rent for a 2-bedroom apartment is $1,014.

CMHC points out that in Ontario while the increase was in line with the general rate of inflation “units that experience turnover in Ontario are not subject to rent controls. Lower Ontario vacancy rates over the past year alongside more units turning over supported stronger rent increases in the spring of 2012.”

 

Canada

Average apartment vacancy rate in Canada’s 35 major centres: 2.3% in April 2012, down from 2.5% in 2011. 

Average monthly rent for a 2-bedroom apartment in new and existing structures: $887 in April 2012. 

 

Lynne Browne

Executive Director, Alliance to End Homelessness Ottawa (ATEH)

613-241-7913 ext. 205, lbrowne at ysb.on.ca

 

-----Original Message-----
From: CMHC-SCHL [mailto:weborders at cmhc-schl.gc.ca] 
Sent: June-12-12 11:00 AM
To: webservice at cmhc-schl.gc.ca
Subject: Spring 2012 edition of CMHC's Rental Market Provincial Highlights - Ontario

 

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The Spring 2012 edition of CMHC's Rental Market Provincial Highlights - Ontario is now available and can be accessed by clicking on the link below.

http://www.cmhc-schl.gc.ca/odpub/esub/64507/64507_2012_B01.pdf <http://www.cmhc-schl.gc.ca/odpub/esub/64507/64507_2012_B01.pdf> 

 

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