Vacancy Numbers Drop in Peace’s Biggest Cities

Share on FacebookTweet about this on TwitterShare on Google+Share on LinkedIn

A new report by the Canada Mortgage and Housing Corporation has yielded some interesting results for the Peace’s two biggest cities.

The report, which took an in depth look in to vacancy rates and rental costs, showed a sizeable drop in vacancies in both Fort St John and Dawson Creek, compared to a year ago.

According to the report, Fort St John currently faces a vacancy rate of 18.5 percent, down from the 28.8 percent from a year ago.

The drop in Fort St John can likely be accredited to a drop in average rental rates by about $40/month, as well as the last report being skewed due to unusual population fluctuation.

The more interesting report comes out of Dawson Creek, where the city saw a drop of nearly 8 percent, to 11.8 percent, despite rent costs actually rising.

The average rental rate in Dawson Creek sits at $989/month, a $28 raise over last year, and $14 increase when compared to Fort St John.

Across the province, the monthly rent rate jumped 5.3 percent, while vacancy rates sit at 1.3 percent.

Share on FacebookTweet about this on TwitterShare on Google+Share on LinkedIn