London’s apartment vacancy rate hit a 15-year high in 2025, newly released figures show – another sign of a housing market shift helping ease rents after years of rapid rises.

The city’s vacancy rate now sits at four per cent, up from 2024’s 2.9 per cent, Canada Mortgage and Housing Corp. (CMHC) said in its annual rental market report Thursday.

It’s a “significant” reversal for a city that just two years ago was grappling with some of the lowest vacancy rates in its history, sitting at 1.7 per cent in 2022 and 2023, said Anthony Passarelli, CMHC’s lead economist for southern Ontario.

“The dynamics have changed drastically,” he said. “Sometimes the vacancy rate will increase very slightly, and we’ll say, ‘This could be within the margin of error for the survey’ . . . this is not that. It

See Full Page