THUNDER BAY, ONTARIO--(Marketwire - Dec. 13, 2012) - According to Canada Mortgage and Housing Corporation's (CMHC) Fall 2012 Rental Market Survey for the Greater Sudbury CMA, the vacancy rate among apartments remained stable at 2.7 per cent in 2012, compared to 2.8 per cent last year. Fixed sample rents for two bedroom units increased by 4.2 per cent this year.
"Improved employment in the goods-producing sector and more full-time jobs in the local economy helped lower vacancy rates in Greater Sudbury. Meanwhile, good home buying conditions helped attract households out of rental and into homeownership pulling vacancy rates in the opposite direction," observed Warren Philp, Market Analyst for CMHC. "This ebb and flow caused vacancy rates to remain stable this year. Rates have now been essentially unchanged for four years in Greater Sudbury," concluded Philp.
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high 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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