SASKATOON – According to the Canada Mortgage and Housing Corporation (CMHC), average apartment vacancy rates in Saskatchewan’s urban centres increased to 3 per cent in April over the previous year’s month.
CMHC says low mortgage rates and rent increases motivated some households to move from renting to homeownership.
In the Regina Census Metropolitan Area (CMA), the average apartment vacancy rate increased to 1.9 per cent in April 2013 from 0.6 per cent one year earlier.
Get breaking National news
The average apartment vacancy rate for the Saskatoon CMA grew slightly to 3.3 per cent in April compared to April 2012. CMHC says the average monthly rent for a two-bedroom in Saskatoon was $1,020 in April.
Apartment vacancy rates declined in three of Saskatchewan’s Census Agglomerations (CA’s).
Estevan’s vacancy rate was the lowest at zero per cent. Provincially, Estevan maintained the highest monthly rent in April with an average two-bedroom apartment going for $1,142.
The largest year-over-year vacancy rate increase was in Swift Current, rising from 2.8 per cent in April 2012 to 8.7 per cent April 2013. The average two-bedroom in Swift Current rented for $751 in April.
Yesterday, the provincial government said Saskatchewan’s population grew by 4,073 residents in the first quarter of 2013, to a total of nearly 1,094,000.
Comments
Want to discuss? Please read our Commenting Policy first.