More rentals available
Posted Dec 16, 2009 11:58:15 AM.
This article is more than 5 years old.
There were more apartment units available in Waterloo Region and Guelph this past October, as compared to the same month last year.
Canada Mortgage and Housing Corporation is out with its Fall 2009 Rental Market Report.
It found the vacancy rate for Waterloo Region climbed to 3.3 percent, up from 1.8 percent in October 2008.
In the Guelph area, it rose to 4.1 percent from 2.3 percent.
The most difficult city to find an apartment in both areas was Waterloo, where the vacancy rate was 1.0 percent.
In fact, Waterloo was the only city to record a decline in its vacancy rate.
CMHC says part of the reason for the overall vacancy rate increase was low mortgage rates, which triggered an upswing in renters moving into the home buying market.
