Halifax’s vacancy rate ranks second-lowest in Canada
Posted Jan 27, 2023 12:19:00 PM.
A new report is putting Nova Scotia at the lowest-end of Canada's rental market.
The Canada Mortgage and Housing Corporation released its annual rental market report on Jan. 26, which showed Halifax's vacancy rate sat second lowest in the country in 2022.
Released annually, the Rental Market Report provides in-depth analysis for major centres across Canada using data from CMHC’s Rental Market Survey and Condominium Apartment Survey.
According to the CMHC, Halifax's vacancy rate stayed at a record low of 1 per cent in 2022 as demand matched supply and the turnover rate wasn't much better.
The CMHC's report noting it dropped to its lowest level in the last five years.
The report also highlights that the average two-bedroom rent in Halifax now costs $1,449 a month, a jump of 9.3 per cent.
The numbers suggest that HRM is especially struggling with high demand but short supply of rental units.