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Vacancy Rate for Seniors Housing in Northern B.C. Slips

Wednesday, June 15, 2016 @ 1:14 PM

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.


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