Vacancy Rates: Vacancy Rate

Jason Beaton Dept: CMHC thought vacancies would climb to 4.5 per cent this year because of the record number of apartments, condos and duplexes that hit the market over the last 12 months. But a report released this week shows the vacancy rate has actually dropped. Only 2.3 per cent of rental units are sitting empty, the lowest rate in the Maritimes, according to CBC. "Migration is one thing that's actually helping this," said Beaton and charlottetown's vacancy rate is much lower than the Canada Mortgage and Housing Corporation predicted, thanks largely to a large number of newcomers to the city. Maritime Vacancy Rates Charlottetown 2.3% Fredericton 2.6% Halifax 2.9% Moncton 4.2% Saint John 5.1% That put Charlottetown a little below the national rate of 2.6 per cent. CMHC market analyst Jason Beaton told News newcomers have helped keep vacancies down. As reported in the news.
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