Primary Rental Market Statistics — London

Number of Private Apartment Units

Apr-15 Oct-15 Oct-16 Oct-17
Bachelor 1,190 1,173 1,175 1,212
1 Bedroom 17,168 17,250 17,334 17,586
2 Bedroom 22,763 22,673 23,648 24,034
3 Bedroom + 1,612 1,606 1,620 1,638
Total 42,733 42,702 43,777 44,470

Private Apartment Vacancy Rates (%)

Apr-15 Oct-15 Oct-16 Oct-17
Bachelor 3.7 c 3.7 c 2.5 c 3.3 d
1 Bedroom 3.0 b 2.2 a 1.6 a 1.7 a
2 Bedroom 4.3 a 3.3 a 2.4 a 1.9 a
3 Bedroom + 4.2 c 4.7 c 3.7 c 1.8 b
Total 3.8 a 2.9 a 2.1 a 1.8 a

Private Apartment Average Rents ($)

Apr-15 Oct-15 Oct-16 Oct-17
Bachelor 616 a 603 a 621 a 655 a
1 Bedroom 788 a 781 a 802 a 840 a
2 Bedroom 953 a 963 a 1,002 a 1,041 a
3 Bedroom + 1,175 a 1,096 a 1,166 b 1,190 b
Total 884 a 881 a 918 a 952 a

Private Apartment Availability Rates (%)

Apr-15 Oct-15 Oct-16 Oct-17
Bachelor 6.5 c 5.2 c 5.4 c 5.1 c
1 Bedroom 5.4 a 4.6 a 3.8 a 3.3 a
2 Bedroom 6.5 a 5.7 a 4.6 a 3.6 a
3 Bedroom + 8.0 c 6.6 c 5.4 c 2.5 b
Total 6.1 a 5.3 a 4.3 a 3.5 a

Private Apartment Estimate of Percentage Change (%) of Average Rent

Apr-15 Oct-15 Oct-16 Oct-17
Bachelor ** 1.8 b 2.5 b 4.4 b
1 Bedroom 4.0 d 2.3 a 1.9 a 3.3 b
2 Bedroom 3.2 c 2.3 a 1.8 a 2.9 b
3 Bedroom + 1.5 c 2.3 b 2.5 b 3.2 b
Total 3.4 c 2.3 a 1.9 a 3.0 c

Notes

Source: CMHC Rental Market Survey

Notes:

The following letter codes are used to indicate the reliability of the estimates:

a - Excellent, b- Very good, c - Good, d - Fair (Use with Caution)
** Data suppressed to protect confidentiality or data not statistically reliable.
- No units exist in the universe for this category
n/a: Not applicable
++ Change in rent is not statistically significant. This means that the change in rent is not statistically different than zero (0). (Applies only to % Change of Average Rent Tables).

The Percentage Change of Average Rent is a measure of the market movement, and is based on those structures that were common to the survey sample for both years.

The information contained in this document is a printable version of information originally contained on CMHC website application https://www03.cmhc-schl.gc.ca/hmiportal. CMHC makes considerable effort to ensure that the information and analysis on this application is reliable, but cannot guarantee that it is accurate or complete. The content of the application is general in nature and is not intended as a substitute for professional advice when making significant financial decisions. You understand and agree that by using this document and the information it contains, you will be bound by the terms of use of the CMHC website (http://cmhc.ca/en/imno/imno_003.cfm), and in particular, you agree that you may not hold CMHC liable for any consequences that arise if you choose to rely on this information and analysis to make a financial decision.

<a class="newWindow" href="/hmip-pimh/en/TableMapChart/RmsMethodology" target="_blank">CMHC Rental Market Survey</a>