According to a new report from Colliers Canada, the country’s multi-family market is continuing to show strength and growth. Research indicates that vacancy and capitalization rates are at historical lows and average rental rates are increasing.

“The multi-family asset class is the most sought after in Canada, and demand is expected to continue,” says Oliver Tighe, director of Collies International in Ottawa. “There continues to be significant competition for any good-quality, large-scale assets made available for sale; as such, many owners are electing to reinvest and expand their existing holdings where possible.”

Year-over-year, the average national price per door increased by nearly 18 per cent while average rents increased by just under four per cent.

Greater Toronto Area (GTA) statistics indicated that the region continues to be the largest market in the country for multi-family transactions. Ottawa and Victoria also experienced significant increases in transactions, while Winnipeg was the least active market.

In Vancouver, one multi-family property saw an increase of over 330 per cent in value.