Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 09, 2010 08:15 ET

Vacancy Rate Unchanged in St. Catharines-Niagara

TORONTO, ONTARIO--(Marketwire - Dec. 9, 2010) - Canada Mortgage and Housing Corporation (CMHC) released its Fall 2010 Rental Market Report for the St. Catharines-Niagara Census Metropolitan Area (CMA) today. Highlights of the Fall 2010 Rental Market Report are as follows:

  • In 2010, the apartment vacancy rate in the St. Catharines-Niagara Census Metropolitan Area (CMA) remained flat at 4.4 per cent. 
  • The movement to home ownership placed upward pressure on the vacancy rate early in the year. Rising prices reversed the movement and its impact on vacancies by the fall.
  • On the basis of a sample of structures common to both the 2009 and 2010 surveys, the average rent increased by two per cent in the St. Catharines-Niagara CMA.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc1209stcats.jpg.

"A variety of factors kept the vacancy rate in October 2010 unchanged from its level in October 2009," commented Ashot Karapetyan, CMHC Market Analyst for St. Catharines-Niagara. "Stronger youth employment and an increase in the renter-age population exerted downward pressure on the vacancy rate, offsetting upward pressure on the rate due to first-time buyers moving to home ownership, particularly in the early part of the year," added Karapetyan. 

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, please visit www.cmhc.ca or call 1-800-668-2642.

To obtain a free copy of the Fall 2009 St. Catharines-Niagara CMA Rental Market Report, please visit the CMHC Website, http://www.cmhc-schl.gc.ca/en/inpr/homain/foan/index.cfm.

Aussi disponible en français

Contact Information

  • For additional information please contact / Pour obtenir de
    plus amples renseignements, veuillez communiquer avec:
    St. Catharines-Niagara CMA: Ashot Karapetyan, Market Analyst
    Canada Mortgage and Housing Corporation
    (416) 250-3234
    AKarapet@cmhc-schl.gc.ca
    or
    En francais: David Lan, Senior Market Analyst
    Canada Mortgage and Housing Corporation
    (519) 873-2426
    DLan@cmhc-schl.gc.ca
    or
    Ontario: Ted Tsiakopoulos, Regional Economist
    Canada Mortgage and Housing Corporation
    (416) 218-3407
    TTsiakop@cmhc-schl.gc.ca
    or
    Canada: Charles Sauriol
    Canada Mortgage and Housing Corporation
    (613) 748-2799
    csauriol@cmhc.ca
    www.cmhc.ca