Vacancy Rate in Seniors’ Residences Stands at 7.4 Per Cent

The vacancy rate for seniors’ residences decreased modestly over the past year, reaching 7.4 per cent in 2016, compared to 8.1 per cent in 2015, according to the Seniors’ Housing Report released by Canada Mortgage and Housing Corporation.

Our survey makes the distinction between two types of spaces: standard and non-standard spaces. Standard spaces are those occupied by a resident paying market rent and who does not receive 1.5 or more hours of care per day. A non-standard space is one in which the residents are receiving at least 1.5 hours of care per day, spaces being used for respite and non-market spaces.

Report Highlights:

  • The survey found that 234,989 seniors lived in the 2,812 residences surveyed.
  • Vacancy rates for all spaces varied across the country, from a high of 12.7% in Newfoundland and Labrador to a low of 2.7% in Manitoba. The national average was 7.4%.
  • Vacancy rates for all spaces in Newfoundland and Labrador (12.7%), Ontario (10.7%), Saskatchewan (9.2%) and Alberta (7.9%) were greater than the national average of 7.4%.
  • Vacancy rates of all spaces in New Brunswick (7.3%), Nova Scotia (7.3%), Quebec (6.6%), Prince Edward Island (6.5%), British Columbia (4.2%) and Manitoba (2.7%) were below the national average.
  • The average rent for bachelor units and private rooms (where at least one meal is included in the rent) rose 5% over the last year, from $2,107 to $2,210 per month.  Among the provinces, Quebec posted the lowest average rents ($1,527) while Ontario posted the highest average rents ($2,978).
  • The increase in the number of senior residents (4.5%) over the year outpaced the increase in the number of available spaces (3.6%), leading to a decrease in the vacancy rate and upward pressure on rent.

Simon Fraser
Market Update

Simon Fraser Condos

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Novo I by Intergulf

Novo I built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Novo II by Intergulf

Novo II built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Aurora by Polygon

Aurora built in 2006 with 103 condos featuring 36 unique floor plans ranging from 715 sq ft to 1500 sq ft.

One University by Millennium

One University built in 2005 is UniverCity's flagship building with luxury homes featuring semi private elevators.

Harmony by Polygon

Harmony built in 2005 was the first condo development at Univercity & as a result offers a unique setting & views.

Serenity Townhomes by Polygon

Serenity is a collection of 2 bedroom townhomes of 1100 sq ft ranging to 4 bedroom 2000+ sq ft townhomes.

The Hub by Liberty Homes

The Hub built in 2009 is set atop Nester's Grocery and steps from High Street giving these homes an urban feel.

Verdant by VanCity Enterprises

Verdant is a two storey town home building built with environmental design and stylish living spaces which complement the modern exterior of these SFU homes.

Origin by Porte Development

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Nest by Mosaic

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Highland House by Liberty Homes

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Lift by Porte Development

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Altitude by Hungerford Group

Altitude will be a 2 tower development comprising of a 12 and 14 story building with a total of 210 strata units.

CentreBlock by Liberty Homes

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