Canada Mortgage and Housing Corp.’s (CMHC) spring Rental Market Survey reports the British Columbia average apartment vacancy rate was 3.4 per cent in April, up about 1 per cent from a year earlier.
The Kelowna and Abbotsford-Mission census metropolitan areas (CMAs) reported lower apartment vacancy rates this spring compared with a year ago. Victoria was the only CMA to record an increase in the apartment vacancy rate compared with the April 2011 level. In Metro Vancouver, the apartment vacancy rate was statistically unchanged from the April 2011 level.
Apartment rents rose slightly in April 2012 compared with a year ago. The average two-bedroom apartment rent was $1,036 per month in April 2012, while the average one-bedroom apartment rent was $892 this year, up 2.3 per cent from a year ago.
This article from the August 2012 Western Investor.
