Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 09, 2010 08:15 ET

Ontario Apartment Vacancy Rates Move Lower in October 2010

TORONTO, ONTARIO--(Marketwire - Dec. 9, 2010) - HIGHLIGHTS

  • Rental vacancy rates reach 2.9 per cent in the fall 2010, down from 3.5 last year
  • Vacancy rates declined across all bedroom types particularly higher priced units
  • Most urban centres in Ontario posted lower vacancy rates in October 2010
  • Fixed sample 2-bed apartment rents grew at a rate of 1.9 per cent in 2010
  • Notable factors exerting downward pressure on vacancy rates include: improving economic conditions, declining first time buyer demand, stronger immigration and less competition from the condominium sector
  • Notable factors exerting upward pressure on vacancy rates includes: weaker youth job markets and increasing purpose-built rental completions

"Demand for rental accommodation strengthened as slowing homeownership demand among first time buyers, rising immigration and less competition from the condominium rental sector offset the dampening effects of weaker youth job markets" said Ted Tsiakopoulos, CMHC's Ontario regional economist. "Improving economic conditions will support further tightening in rental markets and the continued downtrend in apartment vacancy rates," added Tsiakopoulos.

1.1.1_1 Private Apartment Vacancy Rates (%)
by Bedroom Type
Ontario – CMAs
  Bachelor 1 Bedroom 2 Bedroom 3 Bedroom + Total
Centre                  
  Oct-09 Oct-10 Oct-09 Oct-10 Oct-09 Oct-10 Oct-09 Oct-10 Oct-09 Oct-10
Barrie CMA 11.7 c 6.8 c 3.9 b 3.7 a 3.4 b 2.9 a 0.6 b 4.7 d 3.8 b 3.4 a
Brantford CMA **   **   3.7 c 4.3 b 3.5 b 4.0 b 1.0 a 1.8 c 3.3 b 3.7 b
Greater Sudbury CMA 6.9 c **   2.8 a 3.4 c 2.5 a 2.5 a 2.1 c 1.4 a 2.9 a 3.0 b
Guelph CMA 5.2 c 8.5 b 3.3 b 3.0 a 4.5 a 3.3 a 4.0 b 5.3 c 4.1 a 3.4 a
Hamilton CMA 7.0 b 6.7 b 3.7 a 3.8 a 4.1 a 3.4 a 2.9 a 3.9 a 4.0 a 3.7 a
Kingston CMA 1.1 a 1.4 a 0.9 a 0.7 a 1.7 a 1.1 a 0.9 d 1.8 c 1.3 a 1.0 a
Kitchener CMA 4.5 c 1.6 b 2.9 a 2.3 a 3.6 a 2.9 a 2.9 b 2.4 a 3.3 a 2.6 a
London CMA 3.5 d 4.2 b 4.0 a 3.7 a 5.9 a 5.8 a 3.6 b 6.6 b 5.0 a 5.0 a
Oshawa CMA **   2.0 c 3.8 b 3.6 a 4.3 b 2.8 a 3.8 c 2.6 a 4.2 a 3.0 a
Ottawa-Gatineau CMA (Ont. part) 1.3 a 0.9 a 1.4 a 1.6 a 1.7 a 1.6 a 1.7 b 2.2 b 1.5 a 1.6 a
Peterborough CMA 5.5 d 5.3 d 4.9 c 3.7 b 6.0 b 4.4 b **   3.6 d 6.0 b 4.1 b
St. Catharines-Niagara CMA 5.1 d 4.3 c 4.5 b 4.7 b 4.5 b 4.4 a 3.2 c 3.7 c 4.4 a 4.4 a
Thunder Bay CMA 5.6 b 4.9 c 3.5 a 2.4 a 1.2 a 1.8 a 0.7 a 1.6 c 2.3 a 2.2 a
Toronto CMA 4.9 a 2.3 a 3.0 a 2.4 a 2.8 a 1.9 a 2.5 a 1.6 a 3.1 a 2.1 a
Windsor CMA 16.9 d 15.6 d 12.2 a 10.3 a 13.0 a 10.6 a 13.4 d 13.8 d 13.0 a 10.9 a
Ontario 10,000+ 5.0 a 3.0 a 3.4 a 2.9 a 3.5 a 2.9 a 2.7 a 2.4 a 3.5 a 2.9 a

 

 
1.1.5_1 Private Apartment Estimate of Percentage Change (%) of Average Rent1   
by Bedroom Type
Ontario – CMAs
  Bachelor 1 Bedroom 2 Bedroom 3 Bedroom + Total
  Oct-08 Oct-09 Oct-08 Oct-09 Oct-08 Oct-09 Oct-08 Oct-09 Oct-08 Oct-09
Centre to to to to to to to to to to
  Oct-09 Oct-10 Oct-09 Oct-10 Oct-09 Oct-10 Oct-09 Oct-10 Oct-09 Oct-10
Barrie CMA **   ++   ++   ++   1.2 a ++   1.4 d 2.0 c ++   0.7 a
Brantford CMA 1.5 d ++   1.3 a ++   1.1 a 2.1 c 4.9 d ++   1.4 a 1.4 a
Greater Sudbury CMA **   **   3.4 c 2.8 b 4.7 c 2.6 c 2.9 c **   4.0 c 2.6 b
Guelph CMA 1.7 c 2.7 c 1.1 a 0.8 a 1.3 a 0.9 a 1.6 b 0.9 a 1.5 a 0.7 a
Hamilton CMA ++   2.0 c 1.4 a 1.3 a 1.1 a 1.0 a 1.2 a 1.6 c 1.4 a 1.1 a
Kingston CMA ++   2.1 b 1.9 a 3.5 b 2.3 a 3.2 a 2.2 c 2.1 c 2.2 a 3.3 a
Kitchener CMA 1.9 c 2.4 a 2.0 a 1.8 a 1.7 a 1.6 a 1.3 a 2.0 a 1.8 a 1.7 a
London CMA 2.0 b 1.2 a 1.4 a 1.1 a 1.2 a 1.1 a 1.9 b 1.7 a 1.3 a 1.1 a
Oshawa CMA **   2.8 c 1.2 a 1.2 a 1.2 a 0.8 a 2.3 b 1.6 b 1.4 a 1.2 a
Ottawa-Gatineau CMA (Ont. part) 3.3 a 3.1 a 3.3 a 2.8 a 2.9 a 3.7 a 1.8 c 6.0 c 3.2 a 3.1 a
Peterborough CMA ++   1.1 d 2.0 b 0.6 b 2.1 b 1.7 b 1.4 d 2.6 c 2.3 b 1.4 a
St. Catharines-Niagara CMA 2.6 c 2.5 c 2.2 b 2.0 b 2.2 b 1.9 a 3.3 d 2.4 b 2.3 b 2.0 a
Thunder Bay CMA 2.1 c 1.6 c 4.4 b 2.1 b 2.9 a 2.4 a **   **   3.2 b 2.3 a
Toronto CMA 1.7 b 1.7 a 1.9 a 1.6 a 2.2 a 1.9 a 2.2 b 2.4 a 2.0 a 1.8 a
Windsor CMA -1.2 a ++   -2.5 a -0.6 a -1.8 a -0.4 b -3.8 d -0.8 d -2.3 a -0.5 a
Ontario 10,000+ 1.9 a 1.9 a 2.0 a 1.7 a 2.0 a 1.9 a 2.1 a 2.5 a 2.0 a 1.8 a

Canada Mortgage and Housing Corporation (CMHC) has been Canada's national housing agency for over 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes, while making vibrant, healthy communities and cities a reality across the country. For more information, visit www.cmhc.ca or call 1 800 668-2642.

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