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er "As a general rule, a vacancy rate reaching three per cent provides renters with a reasonable choice. When rates exceed five per cent for a pro- longed period, choice gets better, but new rental construction is discour- aged," explained Greg Goy, Manager of Local Market Analysis for CMHC. A growing number of metropolitan centres have high rental vacancy rates according to the results of Canada Mortgage and Housing Corporation's April 1993 vacancy survey. In April, 16 markets had a vacancy rate of five per cent or more, up from 11 markets in October 1992. Overall, 21 of 26 rental markets surveyed in April had a vacancy rate of three per cent or high- CMHC survey shows rental vacancies high Overall, more renters are moving B. NEWELL‘IA. SNGLEHURST" 844Ai061 i ', BILL HUMPHREYS" M66061 $2WJMrtyiifiidriiCiidiiitiii/ baiiutiU . hardwood Mom, 2 baths. 3 bonus. plus tien,lovelylot, central 0mm. Supetb 2363663 igt'iiiinisdi Rirnit right in town. Walk to shops and lake. Vety private garden. $265,000. 4 3179.000. immaculate In home on quot. well established street, Eat-in kit., - rec. rm, air amd., tensed lot Summing {seam balcony. prestige fatalities. On the w TWO BEDROOM CONDO $105,000. Great starter home. Well maintained building in fantastic Glen Abbey location. Includes 5 appliances. B.NEWELL'M.BAWDEN" 8446061 I I BILL HUMPHREYS" 8466061 ATRUEF1ND-GLENl GREG KEWLEY' 8446061 SUSAN FLYNN' 8466061 FORD O'BRIEN‘ 844-6061 " " E2t,itsl,1,i"J.'i ON & DANIEL out and buying homes, Goy said. "Low interest rates and two popular federal housing programs, the five per cent downpayment and RRSP withdrawal plans, have allowed many renters to become homeowners in the last six months, thereby freeing up rental units." In addition to these two nation- al factors, regional and local market factors have also caused vacancy rates to change. In Ontario, a weak economic recov- ery, more affordable house prices and recent completions of both government assisted and private rental housing have combined to increase vacancies in 7 of 10 markets. Goy indicated, "the situation in 1993 is a significant improvement from the tight rental mar- ket conditions which characterized YOU MUST SEE THIS ONE $599,000. 4 bedroom home downtown on huge well need lot. tennis court, large patio wi my. sauna. much more. sakWlWlWii,Q ”33% My mound Wt New My tttttttmont-Onto-s-ttstream. AIrHAUHtfeUetNJHlUNl" $239,000. my mud 2M bungalow on 'l, ttcm.Oose to hwy... c trttmtyNottattop,ittealktrtntttespetson EotwfAr2iteytetiitartmtpaautRamebthetuytmg16 "eaetgctattpstsrhtrtair158x12tr,tmttVotmsp'ral staitt-searttntrrMattttirrlmeLth-n193'ot1ie1tr, 'irwroan14'h11'rMhlat-tetwxtxetwemdimgtavme, iyootrtakAtttrtartdeamama215dr,1utr,ttrriyrtxrn M1241me m was $419,000 HOME OF THE WEEK EDNA KING' 8466061 299 ukeshore Road Eant.t9auvi.e - 844-61!“ PORTUN bdm much of Ontario during the late 1980s." Oshawa recorded the highest vacancy rate in Ontario at 5.8 per cent, Ottawa had the lowest in the country at 1.8 per cent while the vacancy rate in Sudbury increased the most, more than doubling from 2.5 per cent in October 1992 to 5.1 per cent in April 1993. Vacancy rates which were already high in Atlantic Canada grew even fur- ther - the key metropolitan areas of St. John's, Saint John and Halifax all hit vacancy rates over seven per cent in April. In these centres, vacancy rates rose due to a combination of weak eco- nomic growth, federal homeownership programs and, particularly relevant in Halifax, a large number of new rental units entering the market. Vacancy rates increased in all STEPS TO DOWNTOWN 278K Cape Cod. White Beckermam kit opens to main Mor family room. sep, LR/DR,3bdnns.up82tiown. Fin. rec. rm. I PHYUJS MCHthSON' mom h '596,000. Only steps to St. Mildreds schod 2-starey. one owner home in mint caution. Speaawlat lot. inground pool. mm. home on (not crescent. prof xxrvuttrrtzsd.5txMrts.rttsarApthtrtN. EDNA KING' 8466061 EDNA KING. 8466061 SaesReptesmtarve Bus: 844-6061 Res: 845-2617 HOME EDNA KING' M COMELLY'IJ. LUMBERS'IP. NICHOLSON $439,500. Near Appleby College, this tt farmhouse has ty ceilings, 3rd storey lo ' updated, 2 Stairways. private mature lot. $a?4,90tW2,300 per mo. Luxury freehold in exclusive enclave with lakeviews. These 3-yr. old townhomes have it all! STREAM PLUS GREENBELT $184,900. Large private lot backing on Glen Otth Creek. quiet street. renovated kit, 3+ bdrrns., new bath, rec. tm., amt air CUSTOM WEST OAK TRAILS Markay Developments will desim to suit on quiet cresoem in Glen Abbey. pdced trom 309K on 60 & 65 ft. lots. CHARM IN RIVER OAKS $289,900. Beautifully decorated prof. landscaped. This 4-bdrm. home features tyeenhousekjt,fam. trttoithoak&FIP. metropolitan areas in the Prairie region except Winnipeg, where a slight mod- eration occurred from 6.1 to 5.7 per cent. Saskatoon experienced the largest increase in the region, from 4.4 to 6.7 per cent, reflecting strong resale activi- ty attributed to first time buyers and a seasonal increase in rental mobility. Regina was the only centre in the region to have a vacancy rate less than five per cent, as the rate dropped from 5.1 to 4.6 per cent over the last year. In both Calgary and Edmonton, vacancy rates increased 1.5 percentage points, with the rate in Calgary hitting 7.0 per cent, the highest in the Prairies. In these two Alberta centres, the higher rates are primarily due to renters buying homes. (See "First page 12) A C's"l a , a . " ‘11:} I BEV ELUS' 8444i061M45a388 BEV ELLJS' 8444i061B45-2388 rr:__t_vr'ir., Hr- JANE LUMBERS' 8446061 BEV. ELUS' 8446061 " Wu SE m ED p