The latest numbers are in from the Canada Housing and Mortgage Corporation and it shows the country’s rental vacancy rate is up.
But here in B.C., the crunch continues.
While the average apartment vacancy rate sits at 1.3 per cent, up slightly from a year ago, the greater Vancouver area has seen a dip – from 0.8 per cent last October down to 0.7 per cent this year.
The rate was 0.6 per cent in the City of Vancouver when council brought in the empty homes tax earlier this month.
Other areas that show rates below one per cent include Abbotsford, Mission and Victoria.
But it’s good news in the Peace River Country where vacancy rates are up.
The report also shows a 5.1 per cent increase in rent for two-bedroom apartment’s across the province — up to $1200 a month.