Happy 2018! To start off the year, we reviewed the latest statistics from the Canadian Mortgage and Housing Corporation for Victoria. Some notable facts:
The vacancy rate changed little from 2016 despite a 2% expansion of purpose built apartments
4/5 new households in Victoria are renting
Vacant 2 bedroom units are listed for 14% higher than the current average rent for a 2 bedroom unit
The vacancy rate for a 3 bedroom unit is 0.0% in all areas of Greater Victoria, including the Westshore, which had a vacancy rate of 1.1% for 3 bedroom units in 2016
It's clear we have lots of work to do in 2018! Please reach out if you are interested in getting more involved