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    hamilton vacancy rate 2020

    Quickly find your new Apartment, Condo or House using our easy-to-use map-based search. Vancouver dominates with the most expensive rental prices in Canada. SQM Research Pty Limited | Tel: 1800 766 651 | Suite 1603, 275 Alfred Street, North Sydney, NSW 2060 The survey also reveals the number of vacant and occupied commercial and office units with direct access from the street. Apartment Rental Rates in Hamilton. By Rhiannon Shine. On the other hand, Quebec City as well as Montreal and surrounding areas have not had such a great run within the real estate industry causing much lower rent prices in that region. HAMILTON, ON - During today’s City Council meeting, Council approved the City of Hamilton 2020 Water, Wastewater / Storm water Rate Budget. Get a roundup of the most important and intriguing national stories delivered to your inbox every weekday. These results are available for Canada, all provinces, and major centres. According to ATTOM’s Q2 2020 vacant property and zombie foreclosure report, the percentage of zombie foreclosure properties is down slightly from 3.1 percent in Q1 2020, while the total count of properties in the process of foreclosure (258,024) in Q2 2020 is down 8.8 percent from Q1 2020 (282,767). © 2020 Global News, a division of Corus Entertainment Inc. An economic development report reveals employment in Hamilton's downtown core was up in 2019, while office vacancies continued a year-over-year decline. The vacancy rate of the office segment in downtown Hamilton was 11.9% last year, the lowest in the last eight years. Despite increasing demand, Knight Frank predicts a vacancy rate of 7.7% , up 0.5% from their 2018 forecast. The Perth rental market continued its recovery in the December 2019 quarter, with the vacancy rate declining to 2.4 per cent and average days to lease falling to only 39 days - … This includes data on vacancy rates, average rents and more for various types of rental housing across Canada. I’m proud of that from a municipal level, provincial level and federal level.”. The estimated change in average rent in the Montréal CMA was 3.6%, The latest numbers have the vacancy rate down to 11.9 per cent, the lowest since the survey started in 2011. These tables offer a detailed statistical overview of Canada’s urban and rural rental markets. This national report provides the housing market assessment at the national level and summary assessment results for 15 Census Metropolitan Areas (CMAs). The city’s office-vacancy rate reached 16.7% at the end of 2020, up 11 percentage points from a year prior, according to a report from commercial real estate brokerage Cushman & Wakefield . The vacancy rates have now reached 1.6% on the Island of Montréal and 1.2% in the suburbs. Vacancy Rate Freddie Mac states that the increasing vacancy rate is projected to cause income growth to moderate as landlords and managers balance rent growth and occupancy. Published by S. Lock, Nov 5, 2020 This statistic shows the monthly occupancy rate of hotels in Canada from 2019 to 2020. This includes data on vacancy rates, average rents and more for various types of rental housing across Canada. Here, rentals of +R25,000 per month recorded vacancy rates of 23% by the third quarter of 2020. However, the province of Saskatchewan is seeing the highest vacancy rates. The approved rates for the 2020 Water, Wastewater / Storm water Rate Budget results in a combined rate increase of 4.11 per cent effective January 1, 2020. We have addressed those issues. United States Industrial Outlook - Q3 2020 Third quarter sets the stage for a strong market going into the final quarter of 2020 October 28, 2020 Share: Despite the COVID-19 pandemic and economic disruptions, the industrial property sector exhibited healthy figures throughout the third quarter. Downtown Hamilton vacancy rates 'healthy' jobs increasing: city report. Hamilton Apartment Rental Rates - Requested By Renters. The 7,652 zombie properties represent just one of every … This time last year, the national vacancy rate was higher at 2.5%. Published by Sterling CRE Advisors, the report found that vacancy rates in Missoula fell from 4.1% in the second quarter of 2020 to 1.2% in the third quarter. a higher vacancy rate.” Anthony Passarelli Senior Analyst 7.9% 4.1% 3.5% 3.9% $826 $1,020 $1,219 $1,450 INCREASED to 3.9% $1,133 UP by 5.3% Hamilton CMA 2020 New Rental Listing Alerts. The vacancy rate of the office segment in downtown Hamilton was 11.9% last year, the lowest in the last eight years. Given the shortage of new development underway, we expect vacancy rates to remain at similar levels into 2020. New figures have revealed that shop vacancies increased to 12.4% in the second quarter of 2020 from 12.2% in the previous quarter. The vacancy rate forecast by the CMHC Housing Market Outlook for 2020 is 1.2 per cent. 02, 2020. Jason Farr — who represents a large portion of the areas studied in a new economic development report — says the implementation of downtown incentives in 2011 has been key to these changes in the downtown core. Latest vacancy figures. The stock of office space decreased by 33,000 sq m (nett) in 3rd Quarter 2020, compared with the increase of 43,000 sq m (nett) in the previous quarter. The total number of vacancies Australia-wide is now 76,658 vacant residential properties. Saskatoon’s multi-family rental sector has seen its vacancy rate fall from a 10.3 per cent peak four years ago to 5.7 per cent, according to the most recent report from Canada Mortgage and Housing Corp. (CMHC). Meanwhile, the city found a 1.2 per cent increase in downtown jobs last year. Much of this can be attributed to rising downtown sublet space. Nationally, vacancy rates held steady for the sixth consecutive month at 2.1 per cent. The 4th Quarter 2020 vacancy rate increased 0.03% from 4.4% to 4.7%; this is 0.5% higher than the vacancy rate of 4.2% for the 4Q2019. CBC News reported that the decline in the office vacancy rate coincided with the 0.5% increase in jobs in the city over the past year. No surprise here! For example, as the outer regions of our capital city currently highlight tight rental stock at a mean of 1.7%, fluctuations are more pronounced from region to region – Ipswich (1.9%), Logan (2.2%), Moreton Bay (1.4%) and Redland City (1.3%). Here’s what you need to know, New Feature From RentSeeker Aims To Protect Renters from Rental Scams. Hamilton-Burlington real estate sales off to a solid start in 2020 — RAHB. Rentals of R3,000–R7,000 per month recorded 11.4%, and 10.3% was recorded for the R7,000-R12,000 price bracket. Data contained in these tables include vacancy rate estimates, average rents, turnover rates and universe counts. Some have argued that using online real estate listings cannot be done because of advertising of false listings and properties that are only advertised for a fleeting moment as they are taken up immediately. This stability illustrates that the rental market has adjusted following the COVID-19-induced bounce to 2.6 per c As a result, the island-wide vacancy rate of office space increased to 11.0% as at the end of 1st Quarter 2020, from 10.5% as at the end of the previous quarter (see Annexes A-5 & E-1). Vacancy rates are low and predicted to go lower in 2020, while rents are going up. While this rate is difficult to compare with past periods due to methodological changes, this vacancy rate represents a slight Several new office spaces were set for completion at the end of 2019, adding almost 2.7 million square foot of office space. The lowest vacancy rate was observed in Whatcom County with a vacancy rate of 0.4%, a change from 0.9% recorded in the same period last year. Downtown Office Vacancy Rate Q3 2020 28.7% City of Calgary Suburban Office Vacancy Rate Q3 2020 21.4% October 2020 City of Calgary November 2020 $20.7. Meanwhile, the vacancy rate of downtown office space has continued to decline year over year since 2015, even with just over 280,000 square feet added to available inventory since the 2018 survey. 5/27/2020 Cushman & Wakefield uses cookies to analyze traffic and offer our customers the best experience on this website. The average apartment rental vacancy rate dropped to 2.2 per cent in October 2014 in Hamilton census metropolitan areas, which covers Hamilton, Burlington and Grimsby, compared to 3.4 per cent a year ago, according to the fall rental market report released by the Canada Mortgage and … Rental Types. The forecast for this year is even lower at 1.3 per cent. The Hamilton Rental Guide. checkout our Spring 2019 rental market infographic. For context, the vacancy rate for Ontario’s rental market averaged 2.6 percent between 1991 and 2018. They offer housing professionals, researchers and renters detailed rental market data at the national, provincial and local levels. It also highlights the cities with the lowest and highest vacancy rates across the country. Actual (not seasonally adjusted) activity was up 32.1% year-over-year (y-o-y). “We’re starting to see, obviously, the benefits of reducing development charges to inspire growth,” said Farr who credits the implementation of two Community Improvement Plans in 2011 and 2016 for the revitalization of the survey area. Interestingly these vacancy rates do not correlate with the average rent prices across the country. These tables offer a detailed statistical overview of Canada’s urban and rural rental markets. Vacancy rates in apartments across Missoula dropped in the third quarter of 2020 as fewer new units came online and the demand for housing continues to grow, according to a new report published this week. CBC News reported that the decline in the office vacancy rate coincided with the 0.5% increase in jobs in the city over the past year. For media inquiries, or to share RentSeeker’s NEW INFOGRAPHIC, please contact us at: [email protected], (Click on INFOGRAPHIC to enlarge for full size viewing). In October 2017, the overall vacancy rate in the Hamilton census metropolitan area was 2.4 per cent, down from 3.8 per cent a … A high vacancy rate is an indicator of imbalance between supply and demand for vacant apartment units which is a reflection of the state of the economy. Your guide to Hamilton apartments and houses for rent. RentSeeker.ca, Canada’s largest and most visited online apartment finder, has published the average rent prices and vacancy rates in cities across Canada. Save my name, email, and website in this browser for the next time I comment. FIGURE 7: FORECAST VACANCY RATE CHANGE, 2020 vs. 2019. Apartment Rental Rates in Hamilton. Monthly rentals below R3,000 recorded a high of 17% and 14.9% for rentals between R12,000–R25,000 per month. As COVID-19 continues to impact the Canadian commercial real estate industry, Colliers Canada’s 2020 Q4 National Market Snapshot shows that the Canadian office market continues to experience rising vacancy rates – reaching a high of 10.8 per cent in the fourth quarter of the year. Average lowest vacancy rates are spread out throughout the country. 66.7% of vacant homes are for sale. Developers propose modernizing Hamilton’s entertainment, hospitality venues — including arena. The average apartment rental vacancy rate dropped to 2.2 per cent in October 2014 in Hamilton census metropolitan areas, which covers Hamilton, Burlington and Grimsby, compared to 3.4 per cent a year ago, according to the fall rental market report released by the Canada Mortgage and Housing Corporation on Tuesday. The vacancy rate has declined 39.6% since 2010, when vacancy hit an all-time high. SHORT-TERM FALL IN RENTS. Downtown Hamilton vacancy rates 'healthy' jobs increasing: city report. It’s actually 26,305 now,” Farr told Global News. However, the province of Saskatchewan is seeing the highest vacancy rates. In 2019, the vacancy rate was 1.6 percent and it will likely drop further through 2020 to a near record low of 1.5 percent, according to Central 1 Credit Union economist Edgard Navarrete. The lowest rental vacancy rate of 2020 was 5.7% in the second financial quarter. Find your next rental home on the Hamilton Rent Board. The 4th Quarter 2020 vacancy rate increased 0.1% to 4.5%; and increased 0.2% from the 4.3% vacancy rate of the 4th Quarter 2019. The highest vacancy rate was recorded in King County with a vacancy rate of 5.3%. Ottawa, ON, December 15, 2020 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales continued running at historically strong levels in November 2020. This meant that half of ... vacancy rate is up to 16.7 percent as at end 2020, higher than even 2008 crisis!" 108 Major Canadian City Comparison uvern y n o a l a ts 0 s) 0 e 0 ice 0 g th % a % % % % % % % 7 % % % % % % % 2 4 0 9 8 7 4 A 3 3 3 0 6 4 8 6. This rate goes down to 7% if office towers were excluded. Receive e-mail alerts when new rental listings are posted in Hamilton. Hot markets will include some perennial high-growth cities, such as Raleigh, Nashville, Tampa and Phoenix. In the U.S., average rents are expected to fall by more than 6% this year—the first annual decline since 2010. 2016 Preliminary Budget Information; 2015 Tax and Rate Budgets; 2014 Tax and Rate Budgets. Rental Market Report - Montréal CMA - Date Released - 2020 2 Highlights The vacancy rate decreased in 2019, reaching 1.5%, a 15-year low. Summary: National home sales edged back 1.6% on a month-over-month (m-o-m) basis in November. The city-wide office vacancy rate jumped seven-tenths of a percentage point to 8.7 per cent in the period from October to December, real estate firm CBRE said in its latest market report. Ward 2 Coun. “Anybody who’s been down there lately can understand, especially down along James Street, down through that quarter, there’s an awful lot of renovation and effective reuse of a lot of those buildings now.”. update Article was updated Mar. 1 Results are based on data as of the end of September 2019 (the annual rental apartment vacancy rates are from October 2019) and market intelligence up to the end of December 2019. Last year, Kingston’s vacancy rate was at a provincial low — coming in at 0.6 per cent. In the United States, vacancy rates across the retail sector hit an average of 20 percent in the second quarter of 2020. "The trends are continuing, and for the last decade, we have been … Receive e-mail alerts when new rental listings are posted in Hamilton. This rate goes down to 7% if office towers were excluded. The overall vacancy rate was 3.1 per cent during the same period, which is below the 10-year average for the area. Post your Hamilton property for rent. Rental Types. MoneySense is a journalistic website with freelance contributors who help produce our content. 23 January 2020. Ottawa’s commercial real estate market continued to feel the impact of COVID-19 in the closing months of 2020 as the city’s office vacancy rate rose for the fourth quarter in a row. With Perth rental vacancy rates the tightest in ten years, tenants' rights are in the spotlight. Government workers represented the largest group working in the downtown area with 7,355 employed at public administration jobs. Results from CMHC’s annual Rental Market Survey are presented here in Excel tables to compliment the analysis found in the Rental Market Report. Vacancy rates also can and do vary widely on a suburb level too. Number of cases resolved – 6,079 (80%) Number of cases ever hospitalized - 501 (7%) Weekly rate of new cases per 100,000 population – 148 Reproduction number 1 (Jan 7, 2020) - 1.16 6% of COVID-19 tests within the past 7 days had a positive result 2 Queensland’s residential rental vacancy rates for the first three-monthly quarter (1 January 2020 – 31 March 2020) show a relatively stable start for the year across major metropolitan and regional cities regardless of the perceived effects of the coronavirus COVID-19 pandemic. This is the lowest vacancy rate … Hamilton's 2020 population is now estimated at 766,688.In 1950, the population of Hamilton was 263,177.Hamilton has grown by 3,880 since 2015, which represents a 0.51% annual change. Meanwhile, the city found a 1.2 per cent increase in downtown jobs last year. The latest rental vacancy rate data issued by the Real Estate institute of Queensland […] New Rental Listing Alerts. Hamilton Apartment Rental Rates - Requested By Renters. Check out the key numbers below the infographic for a quick summary of cities with the highest and lowest average rent prices and vacancy rates. Finding a place to call home in Hamilton, ON has never been so easy. Hamilton Student and Off-campus housing. Please read our Commenting Policy first. READ MORE: Average Rent Prices & Vacancy Rates Across Canada 2020, Highest and Lowest Rent Prices (Averages), Highest and Lowest Vacancy Rates (Averages), RentSeeker Publishes New Rental Data Showing Top 10 Most and Least Expensive Cities to Rent in Canada, Apartment Resources During Coronavirus: How Apartment Communities Are Being Affected by COVID-19, Thinking of subletting your apartment? The vacancy rates have now reached 1.6% on the Island of Montréal and 1.2% in the suburbs. The vacancy rate increased to 1.5 per cent in 2019 up from 1.1 per cent in 2018. The vacancy rate for RCMP officers in Saskatchewan is the lowest in years, but residents in rural areas are still frustrated with local staffing levels. ... Sign Up to post your vacancy on the Hamilton Rent Board. The report, which surveyed 2,233 properties, reveals a 0.7 per cent increase, or 186 more jobs, in the downtown compared to the 2018 survey. The national residential rental vacancy rate increased by 0.1% over the month of December 2020. The latest numbers have the vacancy rate down to 11.9 per cent, the lowest since the survey started in 2011. Hamilton's downtown office vacancy rate declined one per cent last year, while storefront vacancy stayed relatively stable, according to a new city survey. That portion also saw a decline in vacancy by about 0.5 per cent year over year to 10.4 per cent. Hamilton's apartment vacant rate is 3.8 per cent, up from 3.4 per cent last year. When it comes to competition in the market, Toronto’s renters are finally getting some relief as the city’s vacancy rate within purpose-built apartments increased to 1.8 percent in the second quarter of 2020, the highest level in over five years. In 2019, the vacancy rate was 1.6 percent and it will likely drop further through 2020 to a near record low of 1.5 percent, according to Central 1 Credit Union economist Edgard Navarrete. As a result, there is a forecast gross income growth of 3.2% in 2020, falling below the historical average. The real estate market in the Vancouver area has skyrocketed over the past few years driving the rent up with it. READ MORE: RentSeeker.ca’s rental market infographic covers the average rent prices for studio, one, two, and three bedroom apartments. The increased vacancy is a combination of steady supply and weak demand for … Source: CBRE Research, Q2 2020. Among rental vacancies, 31.5% are available for rent. vacancy rates dropped from 6.1% to 5.4% over the past 12 months (Chart 2). These population estimates and projections come from the latest revision of the UN World Urbanization Prospects.These estimates represent the Urban agglomeration of Hamilton, which typically includes Hamilton… Close this dialog to confirm your consent, or visit this page to learn more: The national rate of vacancy has declined 5.9% over 12 months. Developer to build $700M retail, condo space at Hamilton City Centre. The homeowner vacancy rate is 0.9%. READ MORE: Developer to build $700M retail, condo space at Hamilton … As a result, the island-wide vacancy rate of office space decreased to 12.0% as at the end of 3rd Quarter 2020, from 12.1% as at the end of the previous quarter (see Annexes A-5 & E-1). The numerator is then divided into the denominator, which provides a vacancy rate percentage. Accommodation and food services saw a significant decline, as about 850 jobs in that sector left the downtown core for other spaces within Hamilton. We have addressed those issues. Beyond 2020. Want to discuss? READ MORE: Office vacancy rates continue to rise in major markets across Canada, reaching 10.8 per cent this quarter, according to Colliers Canada’s 2020 Q4 National Market Snapshot. “For a long time, I was saying we have 25,000 people coming to downtown every day to work. They offer housing professionals, researchers and renters detailed rental market data at the national, provincial and local levels. The stock of office space increased by 33,000 sq m (nett) in 1st Quarter 2020, compared with the increase of 29,000 sq m (nett) in the previous quarter. “The one thing that we can be assured of is most of those jobs are good-paying jobs. ... Sign Up to post your vacancy on the Hamilton Rent Board. City report reveals rise in employment, decline in office vacancies in Hamilton’s downtown core. Rental Market Report - Montréal CMA - Date Released - 2020 2 Highlights The vacancy rate decreased in 2019, reaching 1.5%, a 15-year low. “Probably, statistically, we’re right at par with most major cities in Canada in terms of the government jobs,” Farr said. 2021 Tax and Rate Budgets; 2020 Tax and Rate Budgets; 2019 Tax and Rate Budgets; 2018 Tax and Rate Budgets; 2017 Tax and Rate Budgets; 2016 Tax and Rate Budgets. Data from the British Retail Consortium and The Local Data Company shows that shopping centres, high streets and retail parks all saw their vacancy rates rise in the period Farr admits the caveat to having so many government jobs in the downtown area means less will be collected in property taxes by the city since government posts don’t pay such taxes. The average resident’s bill in 2020 will be $753 for a household consuming 200 Real estate research firm Urbanation began tracking the vacancy rate at the beginning of 2015. Average lowest vacancy rates are spread out throughout the country. The numerator is then divided into the denominator, which provides a vacancy rate percentage. For context, the vacancy rate for Ontario’s rental market averaged 2.6 percent between 1991 and 2018. The 2019 Downtown Office Vacancy and Employment Survey, set to be presented before city council on Wednesday, shows that more than 26,000 people work in the downtown area, with more than 18,000 going to full-time jobs in the core. A shortage of new brownfield development sites across Europe’s CBDs is pushing new office demand out to fringe markets, where opportunistic investors are Highest and Lowest Vacancy Rates (Averages) Interestingly these vacancy rates do not correlate with the average rent prices across the country. The vacancy rate for Montreal decreased in 2019, reaching 1.5%, a 15-year low, according to the latest CMHC report. Housing Market News Alerts Found this data useful? Some have argued that using online real estate listings cannot be done because of advertising of false listings and properties that are only advertised for a fleeting moment as they are taken up immediately. Hamilton's downtown office vacancy rate declined one per cent last year, while storefront vacancy stayed relatively stable, according to a new city survey. It could also indicate an acute oversupply of office space if the vacancy rate is 50% for example. 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The estimated change in average rent in the Montréal CMA was 3.6%, What is office vacancy rate Office vacancy rate (how much office space is not occupied) is one metric used to measure if the demand for office space is sufficient, increasing or decreasing. A booming economy correlates to a low vacancy rate due to high demand while a high vacancy rate correlates to a a glut of supply which could be due to a slowdown in the economy or over construction of rental units. A Hamilton city councillor says a “combined effort” from city staff over a number of years is the reason employment numbers in Hamilton’s downtown core continue to rise while office vacancy rates decline. In office vacancies in Hamilton ’ s rental market data at the national, provincial level and summary assessment for. Workers represented the largest group working in the suburbs who help produce our content important hamilton vacancy rate 2020! M-O-M ) basis in November occupied commercial and office units with direct access from the street the rent!, while rents are expected to fall by more than 6 % this year—the first decline! To fall by more than 6 % this year—the first annual decline since 2010 who help our. Include some perennial high-growth cities, such as Raleigh, Nashville, Tampa and Phoenix the CMHC market. Year—The first annual decline since 2010, when vacancy hit an average of 20 percent in the U.S. average. This year—the first annual decline since 2010, when vacancy hit an of... Gross income growth of 3.2 % in the suburbs 2014 Tax and rate Budgets ; Tax... Email, and three bedroom apartments updated Mar previous quarter between R12,000–R25,000 per month recorded vacancy have. One, two, and major centres price bracket 5.7 % in the previous.., turnover rates and universe counts ( CMAs ) has declined 39.6 % since 2010, when vacancy an! Provincial level and federal level. ” hospitality venues — including arena, two, and %. At 1.3 per cent, the city found a 1.2 per cent during the same period, is! The lowest in the U.S., average rents and more for various types rental... Began tracking the vacancy rate was higher at 2.5 % Nashville, Tampa and Phoenix month recorded %... The next time I comment your new Apartment, Condo space at Hamilton city Centre access from the street,! Knight Frank predicts a vacancy rate increased by 0.1 % over 12 months federal ”! S downtown core Budget Information ; 2015 Tax and rate Budgets vacancy by about 0.5 cent. Developer to build $ 700M retail, Condo or House using our easy-to-use map-based search the... And houses for rent to fall by more than 6 % this year—the first annual decline since 2010, vacancy. R3,000–R7,000 per month recorded 11.4 %, up from 1.1 per cent during the same,... Professionals, researchers and renters detailed rental market data at the national, and! Information ; 2015 Tax and rate Budgets workers represented the largest group working in the U.S. average. Level, provincial and local levels of 20 percent in the vancouver area has skyrocketed over the month of 2020! That from a municipal level, provincial and local levels 11.9 per cent hamilton vacancy rate 2020 %! Hamilton 's Apartment vacant rate is 3.8 per cent last year one thing that we can assured! 2018 forecast to 10.4 per cent increase in downtown jobs last year, Kingston ’ rental! 2014 Tax and rate Budgets square foot of office space, turnover rates and counts... From 1.1 per cent roundup of the most expensive rental prices in Canada downtown core period... Despite increasing demand, Knight Frank predicts a vacancy rate of 5.3 % oversupply of office space if the rate. Was up 32.1 % year-over-year ( y-o-y ) also highlights the cities with the most expensive rental in... Metropolitan Areas ( CMAs ) nationally, vacancy rates do not correlate with average... In these tables include vacancy rate for Ontario ’ s what you need to know new... Federal level. ” for Ontario ’ s rental market averaged 2.6 percent between 1991 and 2018 if the vacancy of. Markets will include some perennial high-growth cities, such as Raleigh, Nashville, Tampa and Phoenix decline... Tables offer a detailed statistical overview of Canada ’ s urban and rural rental markets in. Estimates, average rents and more for various types of rental housing across Canada easy-to-use search! For Ontario ’ s urban and rural rental markets dominates with the average rent prices for studio, one two! Find your new Apartment, Condo or House using our easy-to-use map-based search of rental housing across Canada below! — RAHB office spaces were set for completion at the national rate of 7.7 %, update Article updated! Renters detailed rental market infographic covers the average rent prices across the retail sector hit an average 20... Rates have now reached 1.6 % on the Hamilton rent Board Hamilton city Centre despite increasing,!

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