Good news for landlords

Edmonton, December 9, 2010: Following three years of consecutive increases, Edmontons October apartment vacancy rate edged downward in 2010. According to Canada Mortgage and Housing Corporations (CMHC) annual Rental Market Survey released today, the apartment vacancy rate across the Edmonton Census Metropolitan Area (CMA) decreased to 4.2 per cent in October from 4.5 per cent in October 2009.

The reduction in vacancies in the Capital region has been modest in the past year due to continued high unemployment, relatively low levels of provincial net migration, and competition from investor-owned condominium units in the secondary rental market, noted Richard Goatcher, CMHCs Senior Market Analyst for Edmonton.

All things being equal 2011 looks like it will be a better market for the homeowner and it will be time for tenants to make the move into ownership, before prices start increasing again - both rental and selling!

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