Ottawa’s Vacancy Rate Rose as Rental Supply Expanded in 2012

OTTAWA, ONTARIO–(Marketwire – Dec. 13, 2012) – Canada Mortgage and Housing Corporation (CMHC) released its latest Rental Market Survey results for the Ottawa Census Metropolitan Area (CMA) today in the Ottawa Rental Market Report, fall 2012 edition.

Ottawa’s apartment vacancy rate rose to 2.5 percent in 2012 mainly due to a strong expansion in the supply of secondary rental market units and condominium rental offerings. However, robust net migration levels into the capital city supported demand for rental accommodations offsetting any further upward pressure on the vacancy rate. Consequently, the continued rental demand strength pushed up the average fixed sample rent for two bedroom apartments by 2 percent.

“Although the vacancy rate in Ottawa edged up in 2012, the Capital city continues to have one of the lowest vacancy rates in the country,” said Sandra Pérez-Torres, CMHC’s Senior Market Analyst for the Ottawa region.

As Canada’s national housing agency, CMHC draws on 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642.

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