National Vacancy Rate Declined for a Third Consecutive Year

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Low vacancy rates in major centres over the past year underline the need for increased rental supply to ensure people in Canada have access to affordable housing.

Secondary rental condominium market highlights:

  • Average vacancy rates for rental condominium apartments declined to 1% from 1.4%. This is lower than vacancy rates for purpose-built rentals.
  • Average condominium rents for two-bedroom apartments increased, and remain well above the average rent level. 

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