Increased Demand for Rental Housing
A survey released today by Canada Mortgage and Housing Corporation shows that rental apartment vacancy in British Columbia's urban centres was 2.4% in October--down from 2.7% in October 2012. (Above is Concert Development's Remington.) In the Vancouver area, that number was even less--1.7%. Noticeable in the study was the continued high demand for bachelor apartments--a 1.8% vacancy rate for those in BC. CMHC's regional economist Carol Frketich points to a particularly increased demand for rental housing from young adults and immigrants.