Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 09, 2010 08:15 ET

Vacancy Rates Declined in Hamilton and Increased in Brantford This Year

TORONTO, ONTARIO--(Marketwire - Dec. 9, 2010) - Canada Mortgage and Housing Corporation released its annual Rental Market Report for the Hamilton and Brantford Census Metropolitan Areas (CMA) today. Highlights of the 2010 Rental Market Report for these CMAs are as follows:

  • The vacancy rate for rental apartments rose to 3.7 per cent in the Hamilton CMA and declined to 3.7 per cent in the Brantford CMA in 2010.
  • Fewer people moving to home ownership in Hamilton combined with more residents moving to the area supported rental demand in 2010.
  • A weaker economy in Brantford led to some residents moving elsewhere for work and fewer young people moving into rental accommodations.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc1209hamilton.jpg.

"The improved affordability of renting and fewer renters moving into home ownership this year in Hamilton supported the rental market," noted Sarah Fong, CMHC Senior Market Analyst for the Hamilton-Brantford area. "The slowdown in existing home sales in Brantford was not as great as in other markets, indicating there was still some movement into home ownership by renters," added Fong.

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 — homes that will continue to create vibrant and healthy communities and cities across the country. For more information, visit www.cmhc.ca or call 1 800 668-2642.

Contact Information

  • For further information, please contact / Pour obtenir de
    plus amples renseignements, veuillez communiquer avec :
    Hamilton and Brantford: Sarah Fong
    Canada Mortgage and Housing Corporation
    (416) 250-3294
    sfong@cmhc.ca
    or
    En Français: David Lan
    Canada Mortgage and Housing Corporation
    (519) 873-2426
    DLan@schl.ca
    or
    Ontario: Ted Tsiakopoulos, Regional Economist
    Canada Mortgage and Housing Corporation
    (416) 218-3407
    ttsiakop@cmhc.ca
    or
    Canada: Bob Dugan, Chief Economist
    Canada Mortgage and Housing Corporation
    (613) 748-4009
    bdugan@cmhc.ca
    www.cmhc.ca