Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 09, 2010 08:15 ET

Slight Increase in Ottawa's Vacancy Rate

OTTAWA, ONTARIO--(Marketwire - Dec. 9, 2010) - Canada Mortgage and Housing Corporation released its annual Rental Market Report for the Ottawa CMA today. Highlights of the 2010 Rental Market Report are as follows:

  • Ottawa's apartment vacancy stabilized reaching 1.6 per cent in 2010, continuing a very modest trend increase from the low levels of 2008
  • Factors that exerted upward pressure on vacancies include a softer youth job market and competition from the condominium sector
  • Increased demand in the rental market pushed up the average fixed sample rent for two bedroom apartment by 3.7 percent

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc1209otte.jpg.

"Although the vacancy rate in Ottawa edged up slightly in 2010, Ottawa continues to have one of the lowest vacancy rates in the country," said Sandra Pérez-Torres, CMHC's Senior Market Analyst for the Ottawa region. "Increasing prices in the home ownership market coupled with high migration into the city kept the rental market tight," concluded Pérez-Torres.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. 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 vital decisions. For more information, visit www.cmhc.ca or call 1-800-668-2642.

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Contact Information

  • Ottawa (in English or French):
    Canada Mortgage and Housing Corporation
    Sandra Perez-Torres
    Senior Market Analyst
    613-748-5120
    sperezto@cmhc.ca
    or
    Ontario: Canada Mortgage and Housing Corporation
    Ted Tsiakopoulos
    Regional Economist
    416-218-3407
    ttsiakop@cmhc.ca
    or
    Canada: Canada Mortgage and Housing Corporation
    Charles Sauriol
    Senior Media Relations Officer
    (613) 748-2799
    csauriol@cmhc.ca
    www.cmhc.ca