Rental group confident Calgary’s vacancy rate will rebound
Posted Jul 26, 2013 12:09 pm.
This article is more than 5 years old.
A tight housing market and a shrinking vacancy rate doesn’t appear to have the Calgary Residential Rental Association concerned.
The figure fell to 1.2 per cent this month but Executive Director Jerry Baxter is confident things will rebound.
That’s good news for some who fear the return of post-secondary students in the fall could drive this rate to all-time lows.
At the height of the boom in 2008, the housing crunch had pushed the rate to all-time lows (0.5%) forcing renters to pay through the nose
Executive Director Jerry Baxter tells 660News one of the big challenges is the amount of units taken out of consideration because of the flood.
“I think it will stay this way throughout the balance of the year but I believe we’ll see some easing once we get past this post-flood phase,” he tells 660News.
He admits there will be pressures moving ahead but firmly believes many post-secondary students likely hung onto their lodgings during the summer.
His advice; as the market tightens up, looking for housing in the first couple of days each month, landlords will have just received notice from those tenants planning to move out.
