London vacancy rate unchanged

The rental vacancy rate in London is unchanged from 2014 according to the latest data from Canada Mortgage and Housing Corporation. While the national rate was 3.3 per cent, London’s market is tighter at 2.7 per cent and that’s reflected in increasing rents; up 2.3 per cent on average for a 2-bedroom apartment. CMHC says that the city has seen a growth in one and two person households. London also has a higher-than-average proportion of condos which are rented out by owners at 33 per cent. The unchanged vacancy rate is despite an uptick in construction of new homes during 2015.

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