CIBC: Calgary’s Rental Vacancy Lowest in Canada

Calgary’s vacancy rate of 1% is the lowest of the country’s 26 largest CMAs according to a report out today by CIBC.   Edmonton is close behind at 1.4%, marking Alberta as a “tight” rental market.

Vacancy rates across Canada

Vacancy rates across Canada.  (Source:CIBC)

High demand, low supply – again it’s just simple economics.

“The negative relationship between vacancy rates and rent inflation is unmistakable, with rent rising by an average year-over-year rate of close to 6% in tight markets—three times faster than seen in soft markets,” states the report.

Vacancy vs. Rents

Vacancy vs. Rents

If you’re interested in reading more about demographics, trends and the Vancouver & Toronto rental markets, you can download the entire CIBC report here pdf

Please feel free to post your comment or question

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s