NEW: A surge in demand, including the return of students to university and college campuses, tightened Ottawa's rental market in 2022, a new report says. ottnews
The latest rental market report by Canada Mortgage and Housing Corporation shows Ottawa's vacancy rate fell to 2.1 per cent in 2022, from 3.4 per cent in 2021.
Other factors also supported demand for rental units, according to CHMC, including employment rates among youth aged 15 to 24 increasing and rising prices and mortgage rates slowing the transition to homeownership for some renter households. "In addition, commercial buildings are being converted into rental housing projects, particularly in the downtown area," CHMC said.
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