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Edmonton Vacancy Rate on the Rise
Posted: June 17, 2009 at 8:29 am | Tags: Alberta, Alexander, apartment, April, Average, Calgary, canada, canadian funding corp, canadian funding corporation, cent, Cold, Edmonton, Grande Prairie, high, Housing Market, Lake, low, market, moishe alexander, Mortgage, Rate, rent, Rental Market, report, Rise, Spring, today, unit, Vacancy, Wood BuffaloCanada Mortgage and Housing released its Spring Rental Market Report today. Highlights:
- The average apartment vacancy rate in Alberta’s urban centres increased from 2.9 per cent in April 2008 to 4.6 per cent in April 2009. All centres except Grande Prairie reported a higher vacancy rate in 2009.
- The 2009 vacancy rates ranged from a low of 1.2 per cent in Cold Lake to a high of 8.5 per cent in Grande Prairie.
- Calgary and Edmonton, the two largest urban centres, reported vacancy rates of 4.3 and 4.7 per cent, respectively.
- The provincial average rent for all unit types was $962 per month in April. At $2,088, Wood Buffalo had the highest average monthly rent amongst all urban centres in Alberta, while Medicine Hat had the lowest average rent at $654 monthly.
Brought by Moishe Alexander, CFC CEO.