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Vacancy rates ease in Brandon, but rents continue climb

Looking for an apartment in Brandon?

It's getting a little easier to find someplace to live, but it's a little more expensive, too, according to the latest report from the Canada Housing and Mortgage Corporation.

Average Brandon rents in October 2013 were:

  • Bachelor: $479 (up from $451 a year before)
  • One-bedroom: $592 (up from $570 a year before)
  • Two-bedroom: $767 (up from $749 a year before)
  • Three-bedroom plus: $1019 (up from $992 a year before)
  • Total: $720 (up from $695 a year before)

Brandon's apartment vacancy rate was measured at 1.9 per cent in October 2013, a substantial increase from the rock-bottom 0.7 per cent rate a year earlier.

Partly, that's thanks to 55 new apartments that were added to Brandon's inventory in October, says the CMHC.

But Brandon's vacancy rate is still below the provincial average, which was 2.4 per cent in October 2013.

Rents in Brandon continue to climb, too, although the increases here were the lowest in any urban area in the province.

The CMHC compares rents for identical units in October 2012 and 2013, to ensure that variables like the age of the building are not factors in calcualting rent increases.

They say that Brandon's rents for two-bedroom apartments have increased by about 1.6 per cent overall in the past year.

That's well below the increases seen in Winnipeg (4.8 per cent), Thompson (4.1 per cent) and Steinbach (3.4 per cent). The average provincial rental increase was 4.6 per cent.

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