Powell River’s rental market stayed the same in the fall compared to a year ago.
According to statistics released by Canadian Mortgage and Housing Corporation (CMHC), the rental vacancy rate in both October 2012 and 2011 was 5.2 per cent.
The average rent for apartments increased in the same time period. In October 2011, the average rent was $611, while in October 2012, it was $634.
For a one-bedroom apartment, the average rent rose from $561 to $589. For a two-bedroom apartment, it increased from $657 to $677 and for a three-bedroom unit, the increase was from $747 to $750.
CMHC lists Powell River’s availability rate at 5.7 per cent in October 2012, compared to 5.6 per cent in the same month last year. The availability rate records vacant suites as well as those units for which a landlord has been given notice.
Rental market conditions eased in most urban British Columbia centres surveyed in October 2012, according to CMHC. The apartment vacancy rate in the province was 2.7 per cent, compared to 2.4 per cent a year ago.
In Vancouver, the average rent for a two-bedroom apartment is $1,261 and $982 for a one-bedroom unit.
