Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 09, 2010 08:15 ET

Sudbury Vacancy Rate Edges Up

GREATER SUDBURY, ONTARIO--(Marketwire - Dec. 9, 2010) - Canada Mortgage and Housing Corporation released its Fall Rental Market Report for the Greater Sudbury CMA today. Highlights of the 2010 Rental Market Report are as follows:

  • Sudbury's vacancy rate among apartments with three or more units rose to 3.0 per cent in 2010 from 2.9 per cent. The rate increase marks the third consecutive increase in the vacancy rate since 2007.
  • Average two bedroom rents rose 2.6 per cent while one bedroom rents also moved up 2.8 per cent when looking at a fixed sample of units between 2009 and 2010. 

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc1209sudbury.jpg.

"Low mortgage rates have boosted homeownership and have contributed to the movement away from rental," observed Warren Philp, Northern Ontario Market Analyst for CMHC. "However, since the conclusion of the strike, improving employment situation has caused more rental units to become occupied thereby lowering vacancy rates. On balance, the vacancy rate moved slightly up," concluded Philp.

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.

Aussi disponible en français

Northern Ontario Apartment Vacancy Rates Privately Initiated Apartments In Structures Containing Three Units And Over  
  2004   2005   2006   2007   2008   2009   2010  
Thunder Bay CMA 5.0 % 4.6 % 4.9 % 3.8 % 2.2 % 2.3 % 2.2 %
Greater Sudbury CMA 2.6 % 1.6 % 1.2 % 0.6 % 0.7 % 2.9 % 3.0 %
North Bay CA 3.7 % 2.7 % 2.4 % 1.1 % 1.9 % 1.1 % 2.1 %
Sault Ste. Marie CA 5.8 % 3.3 % 1.0 % 1.8 % 1.5 % 1.2 % 1.2 %
Temiskaming Shores CA 4.9 % 5.2 % 2.4 % 4.1 % 1.8 % 0.9 % 1.0 %
Elliot Lake CA 6.3 % 5.6 % 6.7 % 4.4 % 5.1 % 3.7 % 8.7 %
Kenora CA 7.3 % 2.9 % 3.4 % 0.0 % 1.7 % 0.8 % 3.9 %
Timmins CA 8.8 % 4.0 % 3.8 % 2.4 % 1.5 % 1.6 % 1.7 %
West Nipissing CA 2.7 % 3.6 % 3.6 % 4.1 % 2.7 % 3.2 % 5.8 %
Northern Ontario Weighted Average Two Bedroom Rents In Structures Containing Three Units and Over In Privately Initiated Apartments  
  2004   2005   2006   2007   2008   2009   2010  
Thunder Bay CMA 679   689   696   709   719   742   763  
Greater Sudbury CMA 655   668   706   749   800   830   840  
North Bay CA 686   695   729   740   759   784   816  
Sault Ste. Marie CA 603   624   644   666   677   699   709  
Temiskaming Shores CA 540   549   557   574   603   599   620  
Elliot Lake CA 484   491   519   542   594   556   547  
Kenora CA 684   711   733   727   740   732   799  
Timmins CA 596   644   660   658   698   735   742  
West Nipissing CA 534   531   557   580   603   624   649  
Source: CMHC.

Contact Information

  • Canada Mortgage and Housing Corporation
    Warren Philp
    Northern Ontario Market Analyst
    807-343-2016
    or
    En francais : Canada Mortgage and Housing Corporation
    Sandra Perez-Torres
    (613) 748-5120
    sperezto@schl.ca
    or
    Canada Mortgage and Housing Corporation
    Ted Tsiakopoulos
    Ontario Regional Economist
    416-218-3407
    or
    Canada Mortgage and Housing Corporation
    Charles Sauriol
    National Contact
    (613) 748-2799
    csauriol@cmhc.ca
    www.cmhc.ca