Primary Rental Market Statistics — London

Number of Private Apartment Units

Oct-15 Oct-16 Oct-17 Oct-18
Bachelor 1,173 1,175 1,212 1,176
1 Bedroom 17,250 17,334 17,586 17,897
2 Bedroom 22,673 23,648 24,034 24,427
3 Bedroom + 1,606 1,620 1,638 1,693
Total 42,702 43,777 44,470 45,193

Private Apartment Vacancy Rates (%)

Oct-15 Oct-16 Oct-17 Oct-18
Bachelor 3.7 c 2.5 c 3.3 d 2.7 c
1 Bedroom 2.2 a 1.6 a 1.7 a 2.1 a
2 Bedroom 3.3 a 2.4 a 1.9 a 2.1 a
3 Bedroom + 4.7 c 3.7 c 1.8 b 2.1 b
Total 2.9 a 2.1 a 1.8 a 2.1 a

Private Apartment Average Rents ($)

Oct-15 Oct-16 Oct-17 Oct-18
Bachelor 603 a 621 a 655 a 669 a
1 Bedroom 781 a 802 a 840 a 877 a
2 Bedroom 963 a 1,002 a 1,041 a 1,087 a
3 Bedroom + 1,096 a 1,166 b 1,190 b 1,240 a
Total 881 a 918 a 952 a 995 a

Private Apartment Availability Rates (%)

Oct-15 Oct-16 Oct-17 Oct-18
Bachelor 5.2 c 5.4 c 5.1 c **
1 Bedroom 4.6 a 3.8 a 3.3 a **
2 Bedroom 5.7 a 4.6 a 3.6 a **
3 Bedroom + 6.6 c 5.4 c 2.5 b **
Total 5.3 a 4.3 a 3.5 a **

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

Oct-15 Oct-16 Oct-17 Oct-18
Bachelor 1.8 b 2.5 b 4.4 b 6.1 c
1 Bedroom 2.3 a 1.9 a 3.3 b 4.5 a
2 Bedroom 2.3 a 1.8 a 2.9 b 4.2 a
3 Bedroom + 2.3 b 2.5 b 3.2 b 5.9 b
Total 2.3 a 1.9 a 3.0 c 4.4 a

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.

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