Canada’s Top 50 Rental Markets- Courtenay, BC Is One

Canada Mortgage and Housing Corp.’s latest survey of Canada’s rental markets yields some surprising finds and some long-term winners. Rental housing is a hot topic across Canada as house prices rise above what many people can afford, prompting first-time homebuyers to defer a purchase. Add in economic uncertainties, and both tenants and landlords want a property that makes the best use of their money.

For mortgage brokers this is great information . We know  there is enough interest in the rental market and we know that there are alot of people who rent, but with great guidance could afford to buy. Basically we have 3  main clients.
-  wants to buy for their own personal use
-  wants to invest in the housing market
-  wants to rent or does not know that they can buy

The community profiles look at trends in vacancies and monthly rents in each area; the charts and tables show how the communities stack up on a national scale.
A wealth of additional information for each province and what the statisticians term “Census Metropolitan Areas” is available online at www.cmhc.ca, but the following offers a glimpse of what lies ahead for 2012, based on what happened in 2011.

Alberta
Brooks
Calgary
Canmore
Edmonton
Grande Prairie
Lacombe
Lethbridge
Lloydminster
Okotoks
Red Deer
Wetaskiwin

British Columbia
Courtenay
Vancouver Island’s laid-back lifestyle helps support the rental market in Courtenay, which is moving from a resource-based economy to one driven by tourism and supported by the military base CFB Comox. A popular destination for retirees, approximately a fifth of the population is seniors. Vacancies in Courtenay have continued to tighten even as the rental stock as declined, and now average 3.5%. The market is stable, but the demand for new homes will continue to exert pressure on the existing purpose-built rental stock, primarily older buildings.
Fort St. John
Kitimat

Manitoba
Portage La Prairie
Thompson
Winnipeg 

 New Brunswick
Fredericton
Saint John

Newfoundland and Labrador
Grand Falls-Windsor
St. John's

Nova Scotia
Halifax

Ontario
Barrie
Belleville
Brantford
Cobourg
Greater Sudbury
Guelph
Kawartha Lakes
Kitchener-Cambridge-Waterloo
Meaford
Norfolk
Oshawa
Petawawa
Peterborough
Stratford
Thunder Bay
Tillsonburg
Toronto

PEI
Charlottetown

Quebec
Baie Comeau
Saguenay
Québec City
Saint-Hyacinthe
Salaberry-de-Valleyfield
St-Jean-sur-Richelieu
Trois-Rivières

Saskatchewan
North Battleford
Regina
Saskatoon

snippets from an article written by Peter Mitham


 Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team

1.250.650.4182
akroemer@mortgagegroup.com
www.KroemerMortgages.com
Your Mobile Mortgage Professional in The Comox Valley