The Canadian Mortgage and Housing Corporation just released their 2008 Rental Market Reports for Saskatchewan. (You'll have to subscribe to get the free pdfs.) Things are looking pretty bad for Regina.
In the Queen City, the citywide vacancy rate is presently 0.5%, which is a 10-year low. (Down from last year's already very tight 1.7%.) Zones of note include the central zone which sits at 0.5% and the university area which is a grim 0.1%.
Rental rates have increased on average by $87 a month.
Up until now, city hall has been basing its decision making on the old figures, so it'll be interesting to see how this survey changes things in the days to come. A major shift in housing strategy maybe?
On the up side, the CMHC is predicting the citywide rate to go up next year as in-migration slows, but only to 1.2%.
In Saskatoon, meanwhile, things look a tiny bit better on the vacancy front. The citywide vacancy rate increased to 1.9% this year up from 0.6% last. This was achieved, however, while rental rates shot up by $129 monthly.
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