TORONTO, ONTARIO--(Marketwire - Dec. 13, 2012) - Canada Mortgage and Housing Corporation (CMHC) released its Fall Rental Market Report for the London Census Metropolitan (CMA) today. The vacancy rate in London CMA was essentially unchanged at 3.9 per cent as compared to a year prior. On the basis of a fixed sample of structures common to both the 2011 and 2012 surveys, the average rent for two-bedroom apartments rent increased 2.4 per cent.
"Demand for smaller units increased the most, a trend that corresponds with the growth of one and two-person households between the 2006 and 2011 census counts." said Alexander Bonnyman, CMHC Senior Market Analyst for London. "Improved employment in the CMA also supported demand while inter-provincial migration continued to be a drag on the rental market."
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. 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. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.
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