The Canada Mortgage and Housing Corporation (CMHC) 2021 Rental Market Report has been released today February 18, 2002 (see press release here). The report provides an in-depth analysis of major centres across Canada. These reports use data from the fall Rental Market Survey results released annually. This analysis will provide insights on the primary and secondary rental markets, a review of rents and vacancy rates relative to socio-economic and demographic trends and highlight various rental affordability indicators.
The Report shows that the vacancy rate for purpose-built rental apartments held steady in 2021, following the pandemic-induced spike of 2020, while the pace of rent growth slowed. The vacancy rate stabilized because rental demand kept pace with supply growth in 2021 after demand fell far behind supply in 2020. Improved economic and demographic conditions supported rental demand, including recovery in youth employment and renewed net international migration, as vaccination rates increased and pandemic restrictions eased. Rental affordability continues to pose a significant challenge across the country.
From LandlordBC website