Historic rental supply growth raises Canada's vacancy rate [Yahoo! Finance]
Cabot Corporation (CBT)
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Source: Yahoo! Finance
apartments grew by 4.1%, the highest increase in over thirty years, pushing the national vacancy rate from 1.5% in 2023 to 2.2% in 2024. This is one of the key findings from the latest Rental Market Report (RMR) released by Canada Mortgage and Housing Corporation (CMHC). Tania Bourassa-Ochoa, Deputy Chief Economist, CMHC (CNW Group/Canada Mortgage and Housing Corporation (CMHC)) Additionally, the average rent growth for a 2-bedroom apartment saw a significant slowdown in 2024, as rents rose 5.4% for a 2-bedroom unit, down from a record 8% in 2023. However, when a unit turned over to a new tenant, rent growth was 23.5% in 2024, unchanged from 2023. The rented condominium apartment market also remained tight in 2024. The average vacancy rate for rented condominiums in the 17 census metropolitan areas (CMAs) surveyed by CMHC remained at 0.9% in 2024, unchanged from 2023, and down from 1.6% in 2022. Average 2-bedroom rent was up to in 2024 from in 2023. Read the full Rental Market
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CBT
Earnings
- 11/4/24 - Miss
CBT
Sec Filings
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- CBT's page on the SEC website