Halifax rental market among Canada's toughest with lowest vacancy rate and rising rents: CMHC report
By
Giuliana Grillo de Lambarri
Master baker tier. Every paragraph earns its place on the tray.
Summary
Halifax has become one of Canada's most challenging rental markets, according to a CMHC mid-year report. The city has the lowest vacancy rate and lowest turnover rate among major Canadian cities, combined with high and rapidly increasing rents. Rents in Halifax have been rising faster than in other large Canadian cities, significantly pressuring affordability for renters.
Key quotes
· 3 pulledRents have been increasing at a faster pace in Halifax than in other large Canadian cities, putting pressure on affordability, says the Canada Mortgage and Housing Corporation.
Latest numbers show Halifax remains one of Canada's toughest markets for apartment rentals, featuring the lowest vacancy rate, the lowest turnover rate and high rents.
Rental market showing some positive signs, but Halifax renters are feeling the pressure.
You might also wanna read
High-Income Job Losses Cool Housing Demand: Charlotte's Job Boom vs. Austin/Denver Slowdowns
The article analyzes how high-income job losses are cooling housing demand across different U.S. markets. It examines Charlotte's sustained
jbrec.com·6mo ago
San Diego Rents Decline 5.6-7.5% as Increased Supply Outpaces Most Major U.S. Markets
San Diego experienced significant rent declines for both 1- and 2-bedroom apartments (5.6% and 7.5% respectively) over the past year, outpac
kpbs.org·1mo ago
The Economic Logic Behind Vacant Commercial Real Estate in High-Priced Markets
The article analyzes why commercial landlords in high-priced metropolitan areas often keep properties vacant for years rather than lowering
archive.strongtowns.org·6mo ago
Older Americans Opt for Renting Over Homeownership to Avoid Maintenance Hassles
Claire Kerr, a 64-year-old marketing manager, decided to sell her five-bedroom home and rent a smaller property in a 55-plus community to av
wsj.com·10mo ago
Denver Metro Apartment Rents Drop 3.7% Amid Surplus of New Units
Apartment rents in the Denver metro area have decreased by 3.7 percent in the second quarter compared to the previous year, according to a r
denverite.com·10mo ago
Decline in Asking Rents Across U.S. Metros Amid Supply-Demand Imbalance
Asking rents fell year-over-year in a majority of major U.S. metro areas in May, the most significant decline in two years, due to strugglin
seekingalpha.com·1y ago