CMHC: Record Immigration Drove Rental Demand - the deep dive

Feb 1, 2024 · “This surge in immigration is in line with what was observed in other major centres in Canada and drove rental demand in those regions. In British Columbia, most new …

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More Canadians Are Concerned About Immigration As The ... - The …

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Aug 14, 2023 · At the more affordable end of the spectrum, studios recorded an average rent of $1,445. While Toronto and Vancouver reported a slower annual rent growth rate in July at …

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FAQs about CMHC: Record Immigration Drove Rental Demand - the deep dive Coupon?

Does CMHC conduct a rental market survey?

CMHC conducts the annual Rental Market Survey in October to estimate the relative strengths in the rental market. The survey is conducted on a sample basis in all urban areas with populations of 10,000 or more. It targets only privately initiated structures with at least 3 rental units, which have been on the market for at least 3 months. ...

When does CMHC conduct a condo apartment survey?

CMHC conducts the Condominium Apartment Survey (CAS) in September to estimate the relative strengths in the condo apartment rental market. ...

Which CMAs have the highest rent increases?

Toronto, Vancouver, and Halifax saw some of the highest rent increases among major CMAs for turnover units. In these rent-controlled markets, persistently low tenant turnover meant that when units became available, landlords had room to adjust rents to match current market levels. ...

How did rental demand grow in 2024?

Rental demand grew in 2024, as shown by an increase in the number of occupied units. Here are some of the key factors that impacted demand: : Population growth remains a significant driver of rental demand. As of July 1, 2024, international migration reached a record high of nearly 1.2 million people over the past 12 months. ...

Why are Canada's rental market conditions so tight in 2024?

Rental market conditions across Canada’s large urban centres remained tight despite lessening market pressures in some centres due to record level growth in supply outpacing strong demand. The average vacancy rate for purpose-built rental apartments1 rose to 2.2% in 2024 from 1.5% in 2023, remaining below the 10-year historical average of 2.7%. ...

Why is the vacancy rate so low in the Hamilton CMA?

Although the total vacancy rate for purpose-built rental apartments in the Hamilton CMA increased, it remained low, ranking third lowest in the CMA over the past 10 years (Table 1.1.1). Vacancies grew because of an increase in supply and a reduction in demand. Student rental demand fell due to a decline in international student enrollment. ...