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PAGE 6THE CANADIAN STATESMAN, DECEMBER 10, 2003 www.durhamregion.com Vacancy rate on the rise in Clarington More people buying homes because of low mortgage rates DURHAM - Rental vacancies ; continue to rise throughout the coun- •try, including Durham Region, says > Canada Mortgage and Housing Corporation's Corporation's chief economist. | The Oshawa Census Area, which ; includes the City of Oshawa, the •Town of Whitby and the Municipality !of Clarington, has seen a steady - if \ small - rise in the number of apart- ! ments available for rent over the past few years. The rate has grown from r 1.7 percent in 1999 and 2000 to 1.3 in • 2001, 2.3 per cent in 2002, and stands at a current vacancy rate of 2.9 per \ cent (as of October 2003). ; "The rise in the vacancy rate over the past year reflects a number of factors," factors," says Bob Dugan, chief economist economist at CMHC's Market Analysis Centre. "Foremost among these are low- mortgage rates, which reduced mortgage mortgage carrying costs and lessened demand demand for rental housing by bringing home ownership within the reach of many renter households. Vacancy rales also rose because rental apartment apartment completions added new rental supply in many centres." The number of one-bedroom apartments apartments in Oshawa CMA has increased by 39 from 713 last year to 752 currently. currently. Two-bedroom units now number number 845, up from 819 one year ago. However, Mr. Dugan is quick to point out there continues to be a dearth of affordable apartments for low'-income renters. "Nationally. vacancy rates have increased across the range of rent levels in a number of large .centres." explains the chief econo- .mist. "Nevertheless, at the most affordable level, there is still an inadequate supply of units. Therefore, there is a need to add to the affordable affordable rental stock. This lad is reinforced by evidence that a large proportion of low-income families have to pay more than 30 per cent of their income for rent." The highest average monthly rents for two-bedroom two-bedroom apartments were in Toronto ($1,040). Vancouver Vancouver ($905) and Ottawa ($932). The CMIIC survey is based on vacancy rates in privately owned apartment buildings of three or more units and is conducted each vear in October. LEARN DEFENSIVE of new DRIVER TRAINING ISIS 1)1 NDAS SIHia- r VAST, WHITBY ONTARIO (Northwest corner of (ivrrard X DundasSt.) DRIVING 721-8832 FOR ONLY Wv arc Ministry of Tr.ms|i<irtaiioii Approved and the Ontario Safely league Inspected MAXIMUM INSURANCE SAVINGS Job services company helps locate work Bowmanville company holding free training program DURHAM - META Vocational Services Inc. wants to help Durham residents find a job. META, located in Bowmanville, offers offers a three-week job search training program called the Job Finding Club, which is funded by the Government of Canada. The free program teaches effective job-search strategies, including resume writing, the hidden job market and interview interview skills. The information session for the Job Finding Club is Tuesday, Dec. 30. The program begins Monday, Jan. 5 and it is mandatory to attend the information session to attend the program. The program is open to residents of Durham Region who are unemployed and committed to a full-time job search. For more information including location, location, call META at 905-697-8887. -k * * ^ Gemini IS l_.rYlY>S Gymnastics Winter Recreational Program Registration begins: Dec. 9 Ages 18 months to Adult • Parent & Tot • Kindcrgym • Adv. K/gym • Girls Rec • Boys Rec • Adv. Rec • Teen Rec • Adult Rec *************************** * HOLIDAY CERTIFICATES * * AVAILABLE! $ *************************** « l love \g[ i p velum XV vl -mmniï /Ju awSmP& Advanced Esthetk ., MasgajPljl \ents sRejlexÿiagf • Body Treatments Foot Care Packages •Massage Therapy • MUrodermabrçÿtm For that special persqpren your Bit? the gift that relaxiafrcplenishes and rejuvenates bendy and mind. .# Choose from our Ghristmasfackages or one of thirteen.Sjyfpackages. Gift Cerfjfmks Available '9a,m,»7p,m, (EvtqM||« mlUbk upon wpivtl) inml«y9*,m. *..{ //! N IVx 2271 Hwy. #2, Be For All Your Dental Needs Liberty Dental Ji Best of the Holidays from Our Families to Yours. 60 Liberty St. S., Bowmanville 905-623-7100 Email it The Statesman : newsroom@durhamregion.com