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Canada Mortgage and Housing Corporation released it’s results on the Seniors Housing Market.
Highlights
The vacancy rate for standard spaces hit 11.3% this year, its lowest level since 2009. The vacancy rate for all spaces touched 10.7%, its lowest point since 2001.
Total supply of seniors’ housing grew by 4.9% to 56,301 spaces in 2016, but growth in demand outpaced the growth in supply.
The average rent for a standard space increased by 6.7% to $3,499.
Vacancy Rate Hits Its Lowest Level
The overall seniors’ housing vacancy rate in Ontario dropped from 11.5% last year to 10.7% in 2016, the lowest level since the start of the standardized Ontario wide survey in 2001. Meanwhile, the vacancy rate for standard spaces also reached 11.3%, the lowest level since its introduction in 2009.
See more details in the full report at
http://www.cmhc-schl.gc.ca/odpub/esub/65981/65981_2016_A01.pdf?lang=en
You can also visit their Housing Market Information for lots of other reports.
Check out more articles in the with similar categories – Retirement Condos, Retirement Living
