Apartment vacancies falling in area

Apartment vacancy rates in the area at the end of 2012 moved lower than most Alberta rental markets.

The average vacancy rate for privately-initiated rental apartments in Alberta’s urban centres declined to two per cent at the end of 2012, compared to 3.4 per cent in 2011, according to Canadian Mortgage and Housing Corporation (CMHC).

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Rent rises as vacancies tighten

Calgary’s rental market is tightening up as vacancies decline and rent increases, meaning more people may make the move to homeownership, says a federal agency.

“With vacancy rates going lower, that’s going to give the incentive to some people to move into homeownership,” says Richard Cho, senior market analyst with Canada Mortgage and Housing Corp.

Read more: http://tinyurl.com/bf4uaev

 

NOWHERE TO RENT

As both Calgary’s and Alberta’s economies continue to thrive, rental vacancies are showing decreased numbers compared to last year.

According to the Canada Mortgage and Housing Corporation (CMHC), the apartment vacancy rate decreased in Calgary’s Census Metropolitan Area to 1.3 per cent this October compared to 1.9 per cent in October of 2011. Across urban centres in Alberta, the average vacancy rate for “privately- initiated” rental apartments in Alberta’s urban centres declined to two per cent in October 2012, down from 3.4 per cent last year.

Read more: http://tinyurl.com/bhn6bt2

 

Less Rental Spaces Available in the City

Vacancies almost half of ones available last year

If you’re looking for a place to rent in Medicine Hat you have a little less to choose from.

The City currently has an apartment vacancy rate of 5 percent, which is a significant decrease.  Vacancy rates in Medicine Hat have actually almost been cut in half since this same time one year ago, when they stood at 9.4 percent