The Canada Mortgage and Housing Corporation, has released today the Spring Rental Market Survey report. According to this report, the average rate for rental apartment vacancy gets reduced in 35 major centers by 2.5 percent in April 2011 from 2.9 percent April 2010 in Canada.
According to the Chief Economist of CMHC Market Analysis Centre, immigration plays a great role in rental housing demand in the state. Moreover, completion of condominium got decreased in the last months, but the unit of rental apartment completions stayed comparatively constant. It is resulted in the increased demand for rental apartment.
It is mentioned in the report that in the month of April 2011, the main centers having lowest vacancy rates included: Winnipeg and Regina, Quebec, Toronto and Kingston. When it comes to province level, Manitoba has the lowest 0.7 percent vacancy rate, while the rest of the provinces were above 2.0 percent. It also reveals that Windsor, Kelowna and Abbotsford, and Charlottetown were having highest vacancy rates. However, Alberta had the highest vacancy rate on provincial basis.
This survey has also found that in the month of April 2011, the available rental apartment rate was 4.3 percent in 35 leading centers in Canada. When a rental unit is not occupied physically or not ready for rent then it is considered available. Moreover, if the present renter has not received a notice from the owner to leave the place or some new renter has not come for lease, then also it is considered as available.
CMHC, the national housing agency of Canada, has the experience of more than 65 years in helping the people of Canada to access a lot of good quality, environmental friendly housing situations. In addition to it, it also provides reliable, unbiased and latest housing reports on market, helps customers and the housing industry, in taking right decisions.
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