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Calgary Rental Market Report - Spring 2008

By
Real Estate Agent with Royal LePage Foothills

CMHC published their Spring 2008 Rental Market Report on June 5.

The overall vacancy rate in Calgary in April 2008 is 2.0%, compared to 0.5% in April 2007.  The breakdown:

Bachelor: 2.6%

1-Bedroom: 1.8%

2-bedroom: 2.2%

 

Average rents April 2007: bachelor:$608  1-bedroom:$848  2-bedroom:$1008  3+Bedroom:$939

Average rents April 2008: bachelor:$651 1-bedroom:$906 2-bedroom:$1081 3+bedroom:$1105

The full report including other markets: http://www.cmhc-schl.gc.ca/odpub/esub/64725/64725_2008_B01.pdf

- Andrew Kyle

 

Comments (4)

Mark Vosylius, Toronto, Ontario
Mana Investments - Barrie, ON

mmmm...Good stuff to know.....vacancy going up...could it be that Calgary is finally stabalizing....???? Or just catching its breath for another run up the appreciation tree!! I still think Calgary has lots of life. This reports means that 98% of all listed apartments are rented...still good odds.

Jun 15, 2008 03:34 PM
Andrew Kyle
Royal LePage Foothills - Calgary, AB
Calgary Condo Realtor

> could it be that Calgary is finally stabalizing....????

Hi Mark,

It's strange times we live in in Alberta right now (and maybe across Canada too). The price of commodities such as oil and natural gas are very high, and yet much uncertainty on the horizon. I used to work in manufacturing in Ontario, and so the implications of the rapid rise of the Canadian dollar and the effects of high gasoline prices on the auto sector are not lost on this Albertan, and perhaps I am not alone, which is why the Alberta market is tempering and full of uncertainty right now, along with the rest of Canada.

Normally, when asked to predict the future, I tell myself and my clients "I am not a fortune teller", just to be clear to them and myself how uncertain predicting future market trends can be. But that seems like an understatement in these times.  I wonder how "These days, I don't have a friggin' clue" would sound to a client? ;o)

- Andrew Kyle

Jun 16, 2008 01:15 AM
Matt Horton
Platinum Living Realty - Scottsdale, AZ
North Scottsdale Real Estate

Oh how I love Canada....Probably  as much as you guys love AZ!   I work with a lot of Canadians and would love to invite you to send prospective clients my way!   They'll be in great hands and I have some valuable info on my site specifically for Canadians!   http://thehortonteam.com/custompages_reports.php?key=g212711

Matt Horton- 480-227-3311 info@thehortonteam.com John Hall & Associates

Feb 27, 2009 04:43 PM
Matt Horton
Platinum Living Realty - Scottsdale, AZ
North Scottsdale Real Estate

Arizona is still a great place for Canadians, especially Calgarians!  Easy to get to, great weather!  Matt Horton John Hall & Associates, Scottsdale Arizona! 480-227-3311

Jan 10, 2010 03:25 PM