Senior's Housing report released for Ontario - from CMHC
Canada Mortgage and Housing Corporation releases it's results on the Seniors Housing Market.
The vacancy rate for standard spaces1 hit 11.3 per cent this year, its lowest
level since 2009. The vacancy rate for all spaces touched 10.7 per cent, its
lowest point since 2001.
Total supply of seniors’ housing grew by 4.9 per cent to 56,301 spaces in
2016, but growth in demand outpaced the growth in supply.
The average rent for a standard space increased by 6.7 per cent to $3,499.
Vacancy Rate Hits ItsLowest Level
The overall seniors’ housing
vacancy rate in Ontario dropped
from 11.5 per cent last year to
10.7 per cent in 2016, the lowest level
since the start of the standardized
Ontario wide survey in 2001.
Meanwhile, the vacancy rate for
standard spaces also reached
11.3 per cent, the lowest level
since its introduction in 2009.
See more details in the full report at http://www.cmhc.ca/housingmarketinformation