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De en AN 4 - PORT PERRY STAR - Tuesday, March 23, 1993 "Scugog's Community Newspaper of Choice" By Kelly Lown Port Perry Star The vacancy rate in Durham Region is at its highest level in history with 63 of every 1,000 apartments being vacant. Every six months CMHC (Canada Mortgage and Housing Corporation) completes a rental survey, described as the largest and most thorough in Canada. According to the latest survey the vacancy rate for Durham Region was 6.3 per cent in Octo- 'ber 1992, up from 4.7 per cent only six months earlier and 3.4 per centone year ago. A vacancy rate of 7.3 per cent is recorded for Ajax, Pickering and Uxbridge, with mostly two and three bedroom apartments accounting for the high vacancy M&D Meats rate. CMHC's report states the competition from the home own- ership market is most evident in this area. Another factor has been a de- crease in the overflow of tenants who used to reside in the area from Toronto. The decrease has been due to more apartments becoming available in the Met- Can You Afford To Shop Anywhere 30 Water Street - Port Perry, Ont. - 985-4316 | Guaranteed Tender Beef Sirloin Tip Roasts -». 3 Lean Gio 1 Cube Steaks -» London Broil -» Centre Cut Chops -1 Texas Ribs -».. Pork Tenders -» Meaty Back Ribs -» Boneless Roasts - Ib. Butterfly Chops -». Shiskabob Meat -». 69 89. 36° 32° 32° 45° 4299 369 "36° 99 Breaded Schnitzels 5 22 Stir Fry uw. Ground Pork -». 2° 99. ____ Fresh Chicken °° 4 49 4 89 Breasts -». Legs (no back) -» 299 Peameal -». Breakfast Bacon -» Smokies - ». Bologna - Pork Salami -». Apple Blueberry -ropolitan Toronto area. A reduction in rental demand and a large number of complet- ed assisted rental accommoda- tion also affected the Oshawa rental market. In Scugog Township, al- though not reported in the CMHC report due to its small number of apartments, it is evi- dent the vacancy rate in this 329 12° 29 100 19° Freezer - Sarsfield Pies 8" | 29 42°99 Rhubarb/Strawberry 420° Raspberry Bumbleberry Strawberry Pecan Cherry °° 32° 32° | 289 ET Lactancia- My Country Butter 1h. @p29 Double Yolk Eggs ~doz. 23° Farmers Jumbo Eggs - doz 2°° M&D Meats Cherry Hill - Colby Cheese - 340g, 19° Vacancy rate higher than ever before area is also higher than a few years ago. : The number of advertized va- cant Scugog Township apart- ments has averaged anywhere from 10 to 15 a week over the past year. Average rental prices in the township is approximately $420 for a bachelor apartment, $660 for a one bedroom apartment and $710 for a two bedroom. Rent did vary according to whether the price included ap- pliances or utilities. Average rent in the Ajax, Pickering and Uxbridge areas was higher. Rent for a bachelor was $459, one bedroom was $692 and $750 for two bed- rooms. These rents are higher than the Oshawa, Whitby, New- castle area due to a newer rental stock and its proximity to the more expensive Toronto area. Area landlords say it is a lot tougher to rent apartments these days and they have no ex- planation for it. Apartments used to be hard to come by in Scugog Township, but now landlords are having a hard time filling the ones they have. | Grant Morgan, a local land- ~ lord, said he had several apart- ments for rent a while back which took him two months to fi- nally fill. "It is hard finding tenants. It takes a lot longer to rent them out these days," hesaid. Although he could not explain why tenants are harder to come by he said he finds it odd, with the economic times and job un- certainty, that more people aren't renting. Also a real estate agent, Mr. Morgan said there were more first-time home buyers in the last couple years which may have affected the vacancy rate, but he also feels some people may be leaving the township to live whereitis less expensive. Alandlord, who wished not be named, told the Star she has had an apartment for rentin Su- gog for more than two months and has received no phone calls regardingit. "Last year I had a waiting list for the apartment. I can't ex- plainit," she said. She added that she has other apartments in other communi- ties and they are rented. CMHC's report states the un- certainty of the economy and in particular the possible closing of a production line at General Motors, as well as a high unem- ployment rate have left consu- mer and business confidence at a low level, which in turn is af- fecting the local housing de- mand. The report also stated it ex- pects the 1993 local economy will continue to be determined by the prosperity of the automo- tive sector, with General Motors once again being a strong influ- ence. CMHC expects the vacancy rate to increase in 1993, up to as much as 8.5 per cent by October 1993. In a detailed report it stated with the unemployment rate re- maining relatively high and with uncertainty in the automo- tive sector, and with a large supply of assisted rental com- pletions entering the market in 1998, vacancy rates will in- crease. House prices are expected to remain unchanged during 1993 with mortgage interest rates ex- to increase moderately. omeownership affordability will remain high and will con- tinue to result in movement out of rental housing into homeown- ership, the report concluded.