Apartment stats

Saint John has had a greater decrease in vacancy that the nation as a whole. From April 2007 to April 2008 apartment vacancy went down 0.2% in Canada (from 2.8% to 2.6%), while in Saint John the rate decreased by 1.4% (from 5.7% to 4.3%).

And as supply and demand get closer together, of course prices go up. According to the Country 94 news report on the CMHC statistics, the average two bedroom apartment in Saint John costs $36 more each month. The new average for a two-bedroom apartment is $604 per month.

As people start moving back to the area to work on energy and related projects, and older housing stock continues to decline, this upward pressure on rents and declining vacancy will continue.

Hopefully my landlord doesn't get wise to this ;)