A new report released today by the Canada Mortgage and Housing Corporation says apartment vacancy rates in Saskatoon dropped in the last year.
According to CMHC, the average vacancy rate in April was 3.1 per cent, down from 3.4 per cent a year ago.
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CMHC says new construction, along with competition from the secondary rental market and more renters buying homes, kept the vacancy rate above three per cent.
Rent was also up from a year ago, rising by 2.9 per cent to an average of $948 per month for a two-bedroom apartment.
The rental market continues to remain tight in Regina, with the vacancy rate dropping one-tenth of a point to 0.6 per cent, the lowest in the country.
Estevan continues to have the highest rental rate in the province, with the average two-bedroom apartment going for $1,104 per month.
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