Thursday, June 27, 2013

Nanaimo Rental Vacancy Rates Spring 2013

 Nanaimo Vacancy Rates Increase
April 2013 - 2012 
8.3% - 7%

The following information is taken from the CMHC Rental Market Report released in the Spring of 2013. As with all statistics they are seldom easy to interpret the underlying causes, however, the fact that the vacancy rate in Nanaimo has edged up from 7% in April 2013 to 8.3% in April 2013 likely means one of three things, people have left the area, people have purchased houses and no longer are in the rental market or there has been an increase in available rental units. This vacancy rate bodes well for renters as lower rates should be available to reliable renters willing to negotiate.

In Oct. 2012 the vacancy rate was 6.7% which represents 221 vacant units on a total available of 3304. In April 2013 the vacancy rate is 8.3% which represents 277 vacant units on a total available of 3343.


Map Showing Vacancy Rate Changes April 2013/April 2012


The dark blue bar shows vacancy rate for April 2013 and the light grey bar shows the vacancy rate for April 2012.

Follows are some more statistics relating to the Nanaimo Apartment Rental Market taken from the same study.

Total Number of Private Apartment Units & Vacancy and Rent in $.
(Note Vacancy % is 2012/2013 stats expressed in %, Rents 2012/2013 in $)

  • Bachelor 233 units, 3.7% / 9.8% $548 / $556
  • One bedroom 1627 units 6.1% / 7.7% $661 / $664
  • Two bedroom 1360 units 8.6% / 8.7% $797 /  $791
  • Three + Bedrooms 123 Units 8.8% / 9.1%  $961 / $947
  • Total all categories 3343 units 7.0% / 8.3%



allvoices

No comments:

Post a Comment

Your comment will appear after moderation before publishing,

Thank you for your comments.Any comment that could be considered slanderous or includes unacceptable language will be removed.

Thank you for participating and making your opinions known.

Note: only a member of this blog may post a comment.