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Vacancy rates of apartments will move to grow everywhere in Quebec

Vacancy rates of apartments will move to grow everywhere in Quebec

In 2008, vacancy rates of private rental dwellings were at 2,8%, and the crystal ball of the Canadian Mortgage and Housing Corporation (CMHC) envisages a very light rise for 2009 with 3,0% to pass to 3,1% in 2010.

The average rent for all the categories of dwellings was 543 $ in 2008 in the region of Sherbrooke. It will pass to 555 $ in 2009 and next year, the same average rent should cost 10 $ more per month.

Dwellings are always very rare in the region of Quebec. An extremely low vacancy rate of 0,6% in 2008 and 2009, and the CMHC thinks that it should reach 0,8% only in 2010. Average rents in Quebec do not increase in proportion, as one could expect in a context of shortage of dwellings, whereas one speaks about 653 $ per month in 2008; 663 $ in 2009; and finally 673 $ in 2010.

The region of Montreal has known a fall of its vacancy rate passing from 2,4% in 2008 to 2,1% in 2009, to return to 2,4% in 2010, always according to forecasts from the CMHC. Foreseeable average rents: 659 $, 668 $, and 675 $ per month, for the respective years of 2008, 2009, and 2010.

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Québec Landlords Association (1)

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