APARTMENT RENTAL DEMAND LOWER IN ST. CATHARINES-NIAGARA

TORONTO, December 13, 2012

 – Canada Mortgage and Housing Corporation (CMHC)

released its Fall 2012 Rental Market Report for the St. Catharines-Niagara Census Metropolitan

 Area (CMA) today. Demand for rental apartments decreased in St. Catharines-Niagara. The

 average vacancy rate moved higher to 4.0 per cent. On the basis of a sample of structures

 common to both the 2011 and 2012 surveys, the average two-bedroom rent increased by 2.6

 per cent.

 “Improving employment in the 25-44 age group encouraged many renters to move into

 ownership in 2012. Also, employment declined in the 15-24 age group, which caused fewer of

 these people to enter the rental market. Both of these factors put upward pressure on the

 vacancy rate,” noted Paul Tessaro, CMHC Market Analyst for St. Catharines-Niagara.

 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

Diane Walker

Diane Walker

Broker
CENTURY 21 Today Realty Ltd., Brokerage*
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