Tuesday, December 16, 2014

Saint John Vacancy Rates are down

According to the CMHC Rental Market Report for Saint John for Fall 2014 vacancy rates are down compared to 2013. 

Apartment vacancy is down to 8.9% in the City from 11.3% in 2013.  For the CMA (which includes the suburbs) the vacancy rate went down to 9.0% (from 11.4% in 2013). 

In the south end vacancy was up slightly from 10.9% in 2013 to 11.2% in 2014.  Vacancy was actually down for 2 bedroom apartments in the South End, but was up for bachelor and one bedroom units.

In west Saint John the vacancy was down to 5.0%.  In the other parts of the city (and outlying areas) rates were also down.

Not surprisingly, vacancy rates for buildings built since 2005 were the lowest overall, with the highest vacancy rates being recorded for apartments built before the 1940s.

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This is the account used for updating the Urban Plans for Saint John Blog.