Rental apartment vacancy rate in Manitoba rises to 2.1%, rent up 3.2%
WINNIPEG – The vacancy rate for rental apartments rose to 2.1 per cent in urban Manitoba in April from 1.8 per cent in the same month of 2013, the Canada Mortgage and Housing Corp. reports.
More rental units are being built and fewer people are moving the Manitoba, the national housing agency said in a news release.
“Net migration declined last year to 8,576 people from 10,278 in 2012, while the apartment rental universe in April 2014 recorded a net gain of 375 units,” Dianne Himbeault, CMHC’s senior market analyst for Winnipeg, was quoted saying.
The vacancy rate in Winnipeg was two per cent, up only very slightly from 1.9 per cent in April 2013.
The average rent for a two-bedroom apartment increased 3.2 per cent in Manitoba, according to the CMHC report. Rent for two-bedroom apartments in Winnipeg increased 3.4 per cent, with the average rent hitting $969 per month.
Rent was highest in Winnipeg and second-highest in Thompson, where the average rent for a two-bedroom apartment was $803 per month. The lowest rent was in Winkler, where the average two-bedroom apartment cost $686 a month.
The lowest vacancy rate was 1.7 per cent in Thompson, and the highest was 4.3 per cent in Winkler.
More information can be found on the CMHC website.
© Shaw Media, 2014