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CMHC FAll Rental Market Survey

BC’s apartment vacancy rates according to CMHC’s Fall rental market survey were released today. View the report here.   

 “This October, apartment vacancy rates moved lower in all but six of the province’s 27 centres surveyed,” noted Carol Frketich, CMHC’s BC Regional Economist. “Increased demand for rental accommodations from a growing population and improving labour market outpaced additions to supply, putting downward pressure on apartment rental vacancy rates compared to October 2013.”

 Victoria vacancy rates declined from 2.8% to 1.5% over the year and rents increased from $1,068 to $1,095 for a 2 bedroom unit.

 The two-bedroom apartment average rent in British Columbia was $1,112  For one-bedroom apartments in British Columbia, the monthly average rent was $953.

 

 

 

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