{"id":13,"date":"2015-06-15T11:38:41","date_gmt":"2015-06-15T17:38:41","guid":{"rendered":"http:\/\/century21.brixwork.com\/blog\/?p=13"},"modified":"2022-03-05T09:59:19","modified_gmt":"2022-03-05T16:59:19","slug":"yellowknife-vacancy-rate-cut-in-half","status":"publish","type":"post","link":"https:\/\/www.century21yk.ca\/blog\/2015\/06\/yellowknife-vacancy-rate-cut-in-half\/","title":{"rendered":"Yellowknife Vacancy Rate Cut in Half"},"content":{"rendered":"

This morning the CMHC released its Spring 2015 Rental Market Statistics Report. \u00a0Amazingly, Yellowknife’s rental apartment and townhouse vacancy rate was slashed from 5.3% a year ago to 2.4% this spring. \u00a0And the reduction would have been even greater had an additional\u00a052 units not been added to the inventory.<\/p>\n

To get a sense of how surprising these numbers are\u00a0one doesn’t has to look too far. \u00a0Just a week ago CMHC released its Northern Housing Outlook Report<\/a>, in which it predicted a decrease in the vacancy rate in 2015 to 3.5%.<\/p>\n

All of this is good news for investment property owners and bad news for renters. \u00a0But does it mean we’ll be making a return to our traditionally\u00a0stingy vacancy rates? \u00a0There are currently more than 200 apartment condos under construction and\/or pre-sales in our city, which could theoretically draw tenants out of\u00a010% of the total rental universe. \u00a0We also have\u00a0a couple of large rental\u00a0apartment\u00a0buildings sitting vacant while being renovated. \u00a0Granted, we did just lose one downtown apartment building to a fire over the weekend, but on the balance I would expect rental rates to relax between now and this time next year.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Vacancy Rates (%) in Privately Initiated Rental Row and Apartment Structures of Three Units and Over<\/strong><\/td>\n<\/tr>\n
Year<\/strong><\/td>\nVacancy Rate (%)<\/strong><\/td>\nTotal Units<\/strong><\/td>\n<\/tr>\n
1998<\/td>\n0.1<\/td>\n<\/td>\n<\/tr>\n
1999<\/td>\n0.1<\/td>\n<\/td>\n<\/tr>\n
2000<\/td>\n0<\/td>\n<\/td>\n<\/tr>\n
2001<\/td>\n0.1<\/td>\n<\/td>\n<\/tr>\n
2002<\/td>\n0.3<\/td>\n<\/td>\n<\/tr>\n
2003<\/td>\n1.8<\/td>\n<\/td>\n<\/tr>\n
2004<\/td>\n3.1<\/td>\n<\/td>\n<\/tr>\n
2005<\/td>\n3.4<\/td>\n<\/td>\n<\/tr>\n
2006<\/td>\n3.4<\/td>\n<\/td>\n<\/tr>\n
2007 – Spring<\/td>\n2.8<\/td>\n\u00a0\u00a0\u00a0 \u00a01,921<\/td>\n<\/tr>\n
2007 – Fall<\/td>\n1.2<\/td>\n\u00a0\u00a0\u00a0 \u00a01,946<\/td>\n<\/tr>\n
2008 – Spring<\/td>\n0.6<\/td>\n\u00a0\u00a0\u00a0 \u00a02,004<\/td>\n<\/tr>\n
2008 – Fall<\/td>\n0.9<\/td>\n\u00a0\u00a0\u00a0 \u00a02,005<\/td>\n<\/tr>\n
2009 – Spring<\/td>\n2.9<\/td>\n\u00a0\u00a0\u00a0 \u00a02,003<\/td>\n<\/tr>\n
2009 – Fall<\/td>\n5.3<\/td>\n\u00a0\u00a0\u00a0 \u00a02,138<\/td>\n<\/tr>\n
2010 – Spring<\/td>\n1.3<\/td>\n\u00a0\u00a0\u00a0 \u00a02,125<\/td>\n<\/tr>\n
2010 – Fall<\/td>\n0.9<\/td>\n\u00a0\u00a0\u00a0 \u00a02,120<\/td>\n<\/tr>\n
2011 – Spring<\/td>\n0.7<\/td>\n\u00a0\u00a0\u00a0 \u00a02,119<\/td>\n<\/tr>\n
2011 – Fall<\/td>\n1.3<\/td>\n\u00a0\u00a0\u00a0 \u00a02,103<\/td>\n<\/tr>\n
2012 – Spring<\/td>\n2.4<\/td>\n\u00a0\u00a0\u00a0 \u00a02,110<\/td>\n<\/tr>\n
2012 – Fall<\/td>\n3.2<\/td>\n\u00a0\u00a0\u00a0 \u00a02,121<\/td>\n<\/tr>\n
2013 – Spring<\/td>\n3.6<\/td>\n\u00a0 \u00a0 \u00a0not available<\/td>\n<\/tr>\n
2013 – Fall<\/td>\n3.6<\/td>\n\u00a0\u00a0\u00a0 \u00a02,080<\/td>\n<\/tr>\n
2014 – Spring<\/td>\n5.3<\/td>\n\u00a0\u00a0\u00a0 \u00a01,928<\/td>\n<\/tr>\n
2014 – Fall<\/td>\n4.8<\/td>\n\u00a0\u00a0\u00a0 \u00a01,943<\/td>\n<\/tr>\n
2015 – Spring<\/td>\n2.4<\/td>\n\u00a0\u00a0\u00a0 \u00a01,980<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

This morning the CMHC released its Spring 2015 Rental Market Statistics Report. \u00a0Amazingly, Yellowknife’s rental apartment and townhouse vacancy rate was slashed from 5.3% a year ago to 2.4% this spring. \u00a0And the reduction would …<\/p>\n","protected":false},"author":3,"featured_media":14,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[62,54,67],"tags":[9,15,16,17,18,19],"class_list":["post-13","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-renters","category-market-analysis","category-life-in-the-knife","tag-northwest-territories","tag-housing","tag-rent","tag-tenants","tag-vacancy","tag-condos"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/posts\/13"}],"collection":[{"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/comments?post=13"}],"version-history":[{"count":3,"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/posts\/13\/revisions"}],"predecessor-version":[{"id":244,"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/posts\/13\/revisions\/244"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/media\/14"}],"wp:attachment":[{"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/media?parent=13"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/categories?post=13"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.century21yk.ca\/blog\/wp-json\/wp\/v2\/tags?post=13"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}