Charlottetown and Vacant Units

older age cohorts: The overall vacancy decrease was driven largely by a lack of vacant units in downtown Charlottetown, where the rate fell to 4.3 per cent from 6.2 per cent in October 2014. "Charlottetown is experiencing the added inflow of people within the older age cohorts who are moving into Charlottetown from other areas of the province," reads the report. "These people are looking for lower maintenance housing options that are in close proximity to a variety of urban-based amenities and conveniences that are within walking distance or easy transportation routes." This was the second consecutive annual decline in the city, which accounts for 85 per cent of the P.E.I. urban apartment rentals, bringing the overall vacancy rate back in line with its 10-year average, according to CBC. Charlottetown apartment vacancy rate peaked at 7.9 per cent in 2013. P.E.I. renters will see no increase in 2016Charlottetown apartment dwellers can expect higher rents Many Charlottetown renters struggling with affordability "People new to an area typically rent prior to making a home purchase decision, allowing them time to familiarize themselves with the neighbourhoods and local amenities." Since 2008, 12,384 international immigrants have entered the province. For the past six years, Charlottetown added nearly 180 rental units a year, mostly due to the addition of new rental stock. Vacancy rates rise in Summerside Summerside vacancy rate, however, climbed to 7.8 per cent from 3.1 per cent in October 2014. But in 2015, half of that increase was due to the return of existing rental units that had been temporarily taken off the market for renovations or repairs, meaning only 92 new rental units were added. (www.immigrantscanada.com). As reported in the news.