Rental Rates Across Ottawa to Increase Another 9% in 2019
By Roch St-Georges, Real Estate Agent | Agent Immobilier
(EXIT Realty Matrix LTD., Ottawa, ON)
Rental rates in Ottawa have seen a significant increase in 2018. The vacancy rate for Ottawa according to CMHC's Rental Market Report released for 2018 had Ottawa at a 1.6% vacancy rate. The average rent for Ottawa was $1,174 up 5.6% over the previous year.Vacancy rates across the City have been similar across different types of rental types. The lowest vacancy rate being for bachelors units which has a 1.3% vacancy rate while two bedrooms have a vacancy rate of 1.8%.Rental demand continues to be strong with condominium rentals offerings declining slightly while the demand for such units held steady. Ottawa's employment and population growth is supporting the overall housing demand we've been seeing lately.Ontario has seen an increase of approximately 35,000 people in Q1 of 2018 largely...