Recently, while fiddling around with some CMHC data for London, I put together the following charts based on some calculations I was making with the data. These charts compare the growth in the supply of purpose-built rental apartments and townhouses versus average vacancies and average rents, by building age, for the period 2004 to 2019. Building age is separated into… Read more »
NOTE: Before reading this post, readers should read my first post in 2019 in which I explain how housing markets in Ontario can be separated by type and tenure. We can separate purpose-built rentals into three categories: (1) old rentals built pre-2000, (2) new rentals built in 2000 or later, and (3) the number of new rentals needed to reach… Read more »
Rental supply density is a calculation that compares a city or town’s total population to its total amount of rentals and is expressed as the ratio of total rental units for every 1,000 people. Basically, the higher the rental supply density number, the greater the number of rentals versus the city’s population. The number of rentals used in the calculation… Read more »
RBC’s economics department recently (September 25, 2019) released a report written by Robert Hogue, a senior economist with the bank, entitled Big City Rental Blues: A Look At Canada’s Rental Housing Deficit. You can download a PDF copy of the RBC report via the following links. http://www.rbc.com/economics/economic-reports/canadian-housing-forecast.html http://www.rbc.com/economics/economic-reports/pdf/canadian-housing/housing_rental_sep2019.pdf Discussions about rental housing are music to my ears, so I downloaded… Read more »
Over the last year or so I’ve come across articles discussing if new rentals entering a housing market suppress rents and cause them to flatten or decrease, in sort of a supply versus demand relationship. Some articles claim to have found that rents overall increase with supply growth while other articles claim to have found that rents decrease with supply… Read more »