Key Analysis Findings

• „„Demand for rental outstrips the increase in supply resulting in lower Ontario vacancy rates
• „„Toronto, London and Ottawa contribute most to the decline in the provincial vacancy rate
• „„Turnover highest among CMAs with younger populations, lowest among more expensive markets
• „„Factors exerting downward pressure on vacancy rates include: an improving economy, rising cost gap between owning and renting and rising international migration
• „„Factors exerting upward pressure on vacancy rates include:
• weaker job market prospects
• for youth which tempered renter household formation