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Waterloo Multifamily Market Report Q3 2022

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research article

The Waterloo Region Multifamily market changed drastically with record-breaking sales volumes. However, interest rate increases slowed things down to a crawl with investment volume dropping by 97%.

  • The number of transactions dropped significantly to just 6 by the end of Q3 2022 when at the same time in 2021 it was 28 transactions.
  • The issue is driven not just on the buy side but also on the supply side with prices holding steady at $198,321 and cap rate of 3.83% leaving us to believe that sellers are also holding off bringing properties to market in uncertain times.
  • At the same time, rental fundamentals continue to stay strong with vacancy rising slightly by 2% and average 2-bedroom rents increasing by 24% year over year to $2308 per month.


Waterloo Multifamily Market Report Q3 2022

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For More Information, Please Contact:

Karl Innanen

Executive Vice President, Broker

Waterloo Region

Karl Innanen quickly became a “spokesman” for the investment real estate market in Southwestern Ontario. He was able to dovetail his economics education from the University of Western Ontario with the practical experiences working in the real estate brokerage field since 1990.

Karl’s expertise is in understanding and analyzing clients' needs in relation to the dynamics of the market, and formulating strategies that will enable the client to attain their business goals.

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