Winnipeg Free Press
December 11, 2008
By Murray McNeill

Manitoba's rental market grows tighter

An already bad situation got even worse this fall for Manitoba renters.

New Canada Mortgage and Housing Corporation figures released today show the overall apartment vacancy rate in Winnipeg fell to a meagre 1.0 per cent in October from 1.5 per cent a year earlier.

And in some of the province’s smaller urban centres, the  picture is even bleaker. Thompson’s vacancy rate fell to zero from 2.4 per cent a year ago, while Brandon’s continued to hover at 0.2 per cent.

On top of tighter vacancy rates, Manitoba renters were also hit with higher rents in 2008. CMHC said the average rent for a two-bedroom apartment in Winnipeg climbed to $769 a month from $740 a year ago. For all the major urban centres combined, it increased by $27 to $748 per month.

“The decline in vacancies in Winnipeg is mainly due to the continued arrival of international immigrants and non-permanent residents, which increased rental demand since international newcomers tend to rent before buying a house,” Jeff Powell, CMHC’s senior market analyst for Manitoba, said in a written statement.

“Solid economic conditions and the continued influx of migrants also sustained demand for rental housing in Manitoba’s smaller urban centres,” Powell added.
 


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