Montreal vacancy rate declines as economy picks up

cmhc

There was a dramatic year-to year decline in the Montreal vacancy rate last month.

The Canada Mortgage and Housing Corporation says the residential vacancy rate fell 1% in October to 2.8% due in large part to growing numbers of immigrants who are coming to Montreal because of the economic upturn.

At the same time the average rental rate increased by 2.2% to $766 per month.

Radio Canada says vacancy rates are also falling in off-island communities including the South Shore, Laval, North Shore and Vaudreuil-Soulanges. 

CMHC says the lowest vacancy rates in the country can be found in Kelowna and the Abbotsford-Mission region of British Columbuia at 0.2% while the highest vacancy rate is in Saskatoon at 9.6%.

Read the full CMHC report here:
 

Newsletters

Breaking News alerts, info on contests, and special offers from partners