Sudbury Rental Vacancy Rate Stable

GREATER SUDBURY, ONTARIO--(Marketwire - Dec. 13, 2011) - According to Canada Mortgage and Housing Corporation's (CMHC) Fall 2011 Rental Market Survey for the Greater Sudbury CMA, the vacancy rate among apartments remained stable at 2.8 per cent in 2011, compared to the previous year. Fixed sample rents increased by 2.8 per cent this year.

"Employment growth in the goods and services sector, historic low interest rates and average income growth that has outpaced the Ontario average have contributed to increase household formation. These factors provide a good footing for those contemplating homeownership but also for those households who choose to rent," observed Warren Philp, Northern Ontario Market Analyst for CMHC.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high 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.