TORONTO, ONTARIO--(Marketwire - Dec. 13, 2012) - Canada Mortgage and Housing Corporation (CMHC) released its Fall Rental Market Report for the Peterborough Census Metropolitan (CMA) today. The apartment vacancy rate declined to 2.7 per cent in October 2012 from 3.5 per cent one year earlier. On the basis of a fixed sample of structures common to both the 2011 and 2012 surveys, the average two-bedroom apartment rent increased by 1.6 per cent this year.
"In 2012 there was greater demand for rental accommodation in Peterborough CMA. Fewer potential first time buyers vacated their rental suites, while at the same time more youths formed a separate household and entered the rental market. A smaller increase in average rent compared to 2011 also contributed to the stronger demand", said Anthony Passarelli, CMHC Market Analyst for the Peterborough area.
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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