Ontario apartment vacancy rates decline in April 2008



    
    Highlights
    ----------

    -  Ontario rental apartment vacancy rates decline to 3.1 in April 2008
       from 3.9 per cent in April 2007.
    -  Vacancy rates decline for all bedroom types
    -  Most urban centers posted tighter rental market conditions
    -  Greater Sudbury is one of the tightest markets across the country
    -  Windsor, Hamilton, Oshawa, St. Catharines-Niagara and Thunder Bay post
       vacancy rates above Ontario average
    -  Increases in fixed sample apartment rents were in line with rent
       review guideline increases and increases in the cost of living index
    

    TORONTO, June 5 /CNW/ - "Rising mortgage carrying costs have dampened
Ontario home buying activity early in 2008, particularly among first time
buyers," said Ted Tsiakopoulos, CMHC's Ontario regional economist. This
combined with a slower pace of condominium apartment completions has tempered
the outflow of renter households into the ownership market," added
Tsiakopoulos.

    Please click the following link to see the full report:
<a href="http://www03.cmhc-schl.gc.ca/b2c/b2c/init.do?language=en&z_category=0/0000000059">www03.cmhc-schl.gc.ca/b2c/b2c/init.do?language=en&z_category=0/0000000059</a>

    As Canada's national housing agency, CMHC draws on over 60 years of
experience to help Canadians access a variety of quality, environmentally
sustainable, and affordable homes - homes that will continue to create vibrant
and healthy communities and cities across the country.
    For more information, visit www.cmhc.ca or call 1-800-668-2642.




For further information:

For further information: Ted Tsiakopoulos, Regional Economist - Ontario
Region, (416) 218-3407, ttsiakop@cmhc.ca


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