Vancouver, on the other hand, saw vacancy rates drop from 0.9 per cent to 0.8 per cent this year, and the Tri-Cities also saw vacancies decline, to 1.2 per cent versus 1.4 per cent in 2017.
In fact, Canada's overall vacancy rate declined for the second year in a row to reach 2.4%, from 3.0% in 2017, according to Canada Mortgage and Housing Corporation's (CMHC) Rental Market Survey. Toronto's vacancy rate was 1.1 percent. However, among the 10 urban centres, where nearly all centers had a net increase in their apartment rental options last year, five centers experienced a decrease in their apartment units this year. The vast majority are rental apartments.
The stability of rental prices varies wildly across the country, with rent rising by 9.4 per cent over the past year in Kelowna, B.C., and going down slightly in Regina, by 0.5 per cent.
Williamsville city Coun. Jim Neill says affordable housing was the No. 1 issue residents were speaking to him about during the fall municipal election.
The average rent in Yellowknife rose by two per cent, to $1,614 per month, compared to the national average of $987 per month.
Revelan causas de muerte de Stan Lee
De acuerdo a los medios especializados, Lee estuvo luchando contra varias enfermedades durante el último año, entre ellas la neumonía.
The increase is likely due in part to more units turning over as long-term tenants move out of their apartments, the agency said. Supply in the primary rental market continued to post strong gains in 2018, growing by 3.7 per cent.
Developers spotted an opportunity in the market and have been launching rental projects in recent years, often large apartment buildings with long construction times. "These people are dependent on a stable rent to be able to make ends meet from year to year". The increase was the result of more than 700 new units being added to the market over the last 12 months.
"This is the fifth consecutive year it's been at or near one per cent", said CMHC analyst Eric Bond. The benchmark price for a condominium last month in Victoria's core was $502,600, and a single-family house was $881,000, according to the Victoria Real Estate Board. "This factor, combined with the growth in youth employment and the aging of the population, drove up demand for rental housing".
Rental vacancies vary throughout the region.
The average cost to rent in Port Alberni has climbed 5.2 per cent over the previous year to $717 per month, with a vacancy rate drop from 1.7 per cent in October 2017 to 0.7 per cent last month.