Swift Current now boasts the highest apartment vacancy rate in Saskatchewan

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Swift Current experienced Saskatchewan's largest year-over-year increase in apartment availability according to the most recent Canada Mortgage and Housing Corporation’s (CMHC) Rental Market Survey.

Swift Current's apartment vacancy rate is at a provincial high 8.7 per cent, making the highest year-to-year jump after rising from only 2.8 per cent vacancy just one year ago.

The CMHC rental Market Survey highlights Saskatchewan's average rate in urban centres eased from 2.1 per cent in April 2012 to 3.0 per cent in April 2013.

There were a series of factors impacting Swift Current's totals, with additional rental units added to the market contributing to the higher vacancy rate, along with an impact to vacancies caused by lower natural gas prices impacting conventional drilling in the area.

The report does show Swift Current as boasting the lowest average two-bedroom rent at $751 per month in April 2013, and it remains the overall most affordable rental rate at

APARTMENT % VACANCY RATES

Community    April 2012    April 2013

Swift Current    2.8%    8.7%

Regina    0.6%    1.9%

Saskatoon    3.1%    3.3%

Estevan    1.0%    0.0%

Lloydminster    2.2%    1.1%

Moose Jaw    1.6%    2.9%

North Battleford    5.3%    4.6%

Prince Albert    3.9%    6.5%

Yorkton    1.4%    3.6%

Saskatchewan    2.1%    3.0%

* average includes vacancy rates for bachelor, one-bedroom, two-bedroom, and three-bedroom rentals.

 

APARTMENT AVERAGE RENTS

Swift Current    $679    $736

Regina    $876    $920

Saskatoon    $891    $932

Estevan    $1,006    $1,068

Lloydminster    $838    $929

Moose Jaw    $719    $749

North Battleford    $699    $736

Prince Albert    $817    $818

Yorkton    $719    $762

Saskatchewan    $858    $899

* average includes rents for bachelor, one-bedroom, two-bedroom, and three-bedroom rentals.

Organizations: Canada Mortgage and Housing Corporation

Geographic location: Swift Current, Saskatchewan, Saskatoon Moose Jaw North Battleford Yorkton Battleford

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