Vacancy Rate for Seniors Housing in Northern B.C. Slips
Prince George, B.C.- The number of independent living spaces for seniors over the age of 75 has slipped a full percentage point over the past year.
A new report from Canada Mortgage and Housing indicates the vacancy rate in North central B.C. is now at 3.8% the lowest rate in all of B.C and down from the 4.8% recorded this time last year.
The demand for such housing is increasing, and CMHC predicts the number of residents in the region who are over the age of 75 will double over the next 20 years to 5,600.
Provincially, the vacancy rate for Independent Living spaces for seniors is sitting at 6.3%, down from the 9.1% recorded a year ago.
The highest vacancy rate in the country for this type of housing is in Newfoundland and Labrador which has a rate of 12.7% while Manitoba has the lowest rate among provinces with a rate of 2.7%.
CMHC says the rising number of seniors across the country ( up 4.5%) outpaced the increase in the number of available spaces, and that has lead to not only a dip in the vacancy rate, but has put upward pressure on rents.