Posted: Jan. 26, 2023 6:14PMA new report shows small improvements in the Greater Victoria rental market, but not enough to keep up with rental demand., released Thursday, vacancy rates have made small increases in B.C.’s capital.
Pershing Sun, senior analyst with CMHC, said while that’s one piece of positive news in a challenging market, it doesn’t make a dent in the demand. Another factor is the improving employment rate. According to the report, Victoria added 6,200 jobs added between January and October. “We actually have a record number of rental units coming online, but we know there is a lot more work to do,” Ravi Kahlon, Minister of Housing, told reporters Thursday.The report states the Victoria area lost 83 of its purpose-built rental townhouses in 2022 — representing 12 per cent of its available stock.
Interest rates are through the roof. Trickle down economics.
not EVERYONE can afford to live in BC get over it
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