New Brunswick sees lowest vacancy rate in over 30 years - New Brunswick | Globalnews.ca

A yearly rental market survey shows New Brunswick’s 2023 vacancy rate was the lowest it’s been in over 30 years.The Canada Mortgage and Housing Corporation (CMHC) has released vacancy rates since 1990. In 2023, the primary rental market’s vacancy rate was 1.5 per cent. That’s 53 per cent lower than the 1990 rate and 83 per cent lower than its highest rate in 2013.View image in full screenJulia Woodhall-Melnick runs a social sciences lab through the University of New Brunswick, called Housing, Mobilization, Engagement and Resiliency Lab. She researches housing and advocates for social equity. She says a healthy vacancy rate is 4.0 per cent. New Brunswick’s vacancy rate hasn’t been at 4.0 per cent since 2017.Story continues below advertisement“It was definitely not healthy to begin with,” she said.The email you need for the day's top news stories from Canada and around the world.And nationally Canada also recorded its lowest vacancy rate in 2023 at 1.5 per cent, according to CMHC.Teri-Ly...