Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 13, 2011 08:15 ET

Apartment Rental Demand Higher in Kitchener and Guelph

TORONTO, ONTARIO--(Marketwire - Dec. 13, 2011) - According to Canada Mortgage and Housing Corporation's (CMHC) Fall 2011 Rental Market Survey for the Kitchener-Cambridge-Waterloo and Guelph Census Metropolitan Areas (CMAs), the average vacancy rate in Kitchener moved lower to 1.7 per cent and in Guelph to 1.1 per cent. On the basis of a sample of structures common to both the 2010 and 2011 surveys, the average two-bedroom rent increased by 1.5 per cent in Kitchener and by 0.9 per cent in Guelph.

"Less movement to homeownership and more students and young adults renting exerted downward pressure on the vacancy rate in October 2011. Full-time employment for young adults improved, allowing them to form a household and enter the rental market," noted Erica McLerie, CMHC Senior Market Analyst for the Kitchener-Guelph area.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

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