Ottawa Rental Market Report for January 2021.
CMHC just released their comprehensive rental report covering all of Canada. It's a 165 page document in which we've isolated the six pages relevant to Ottawa. It's extremely interesting reading.
Read or download the full 6 page PDF here ... CMHC Rental Report Jan. 2021
In neighbourhoods which typically have the lowest vacancy rates of frequently less than 1%, we now have rates of about 4% !!!
When the pandemic hit in March 2020, students went home, but their apartments were still rented, likely till June, but they were vacant.
As the pandemic drags on the student rental market continues to remain soft, resulting in abnormally high vacancy rates in 2021.
Overall two bedroom apartments average rent increased by 5.5% even though the Ontario governments maximum permitted amount was 2.2%. There's more in the report.
Read or download the 6 page PDF here ... CMHC Rental Report Jan. 2021