Ben Sage, Moving Woodstock
Woodstock Rental Vacancy Continues Downward Trend
The Woodstock Rental Market Continued to show strength in favour of landlords over the past six months, putting more upward pressure on rental rates. My theory is that a lack of available inventory all year long in the “first time buyer” price range has kept the supply of tenants constant throughout the year.
When I last posted about the rental vacancy rate, after the spring report (CMHC releases two annual rental reports, one spring report and one fall report), the Vacancy rate in Woodstock for apartments of 3 units or more was a mere 1.8%, which had dropped from 2.3% at the same time the previous year (spring 2012).
The fall numbers are showing a consistent downward trend. Although UP from the spring vacancy rate of 1.8%, the vacancy rate is lower than the previous fall rate. It has decreased to 2.1% from a rate of 2.8% at the same time last year.
This is good news for investors, who continue to benefit from low interest rates, manageable increases in property values, and consistent demand for rental units.
For the full CMHC report, please click here.
I have been successful helping clients buy, sell, or lease residential, commercial, or investment properties in the Woodstock, Ontario area since August of 2007. With technical experience ... Read More...