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Halifax's rental vacancy rate falls to 1 per cent

With Halifax's rental vacancy rate dropping to 1 per cent, the city now sits below Vancouver, Toronto and Montreal

The city's apartment rental vacancy rate has plummeted to roughly 1 per cent.

That according to a new report from the Canadian Mortgage and Housing Corporation which says that's a drop from 1.6 per cent last year.

According to the report:

• Bachelor apartments are now renting for an average of $812, with a vacancy rate of 1.3%
• One bedrooms are renting for an average of $959, with a vacancy rate of 1%
• Two-bedrooms are renting for an average of $1,202, with a vacancy rate of 0.9%
• Three-bedrooms are renting for an average of $1,390, with a vacancy rate of 1.2%

NDP housing critic Lisa Roberts told NEWS 95.7 the numbers are troubling.

"I think the fact that our vacancy rate is marginally lower than Vancouver's is very concerning and also the scale of rent increases is very concerning," she said.

The average rent was up almost four per cent from $1,066 to $1,113 in Halifax.

With Halifax's rental vacancy rate dropping to 1 per cent, the city now sits below Vancouver, Toronto and Montreal.

https://www.halifaxtoday.ca/local-ne...r-cent-2023362