As 2009 comes to an end it’s a good idea to review the CMHC Rental Market Report to see what’s happened for the tail end of the year. Here are the highlights.

Vacancy Rate:

• In Ocober 2009 the vacancy rate for the Saint John Area rose to 3.6% from 3.1% last year.
• In Saint John City Proper, three of the four zones had a year over year increase. The uptown core remained the same at 3.3%, West Saint John up to 2.7, North Saint John up to 3.3% and East Saint John with the highest rate up to 6.3%. The outlying areas was up to 1.9%
• Although the vacancy rate rose this year, it’s the second lowest since 2000.
• National vacancy rate increased in October 2009 (Saint John 3.6, Edmonton 4.5, Toronto 3.1, Vancouver 2.1, Calgary 5.3)

Average Rent:

• The average rent was up by 4.2%, with the average rent at $613/month
• The average rent for the popular 2 bedroom apartments was up at 4.5% at $644/month

For full details download the pdf below, or visit www.cmhc.ca and subscribe.

Download (PDF, 2.14MB)

It’s snowing out today, but spring we know is on the way. Harrity Real Estate Services is actively seeking new clients in the Greater Saint John and Sussex New Brunswick areas.

In light of our search for great new clients, we are offering a spring promotion. We are waiving our setup fees for portfolios with 10 units or less, and reducing our setup fee by 50% for portfolios with more than 10 units!

Take advantage of these savings up until the 15th of May 2009! Some conditions may apply, contact us for details.

Contact us TODAY for you’re free quote!