Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 26, 2012 08:15 ET

2012 Retirement Home Survey

MONTRÉAL, QUEBEC--(Marketwire - June 26, 2012) - Canada Mortgage and Housing Corporation (CMHC) released today the results of its latest retirement home survey. According to the survey, the vacancy rate for standard spaces (1) was little changed in Quebec in 2012. It amounted to 8.4 per cent in February, compared to 8.1 per cent over the same period in 2011.

(1) Places requiring less than an hour and a half of care per day

"This stability in the overall vacancy rate stems from unchanged levels of supply and demand over the last year," explains Kevin Hughes, Regional Economist at CMHC for Quebec.

In large urban centers (see Table)

As in previous years, the survey results in the market for nursing homes differ greatly from one census metropolitan area (CMA) to the other in Quebec.

  • Few changes are noted in terms of markets in Montreal (7.9 per cent) and Quebec (5.2 per cent).
  • A certain tightening in the Quebec portion of the Ottawa-Gatineau CMA (17.6 per cent). This region still posts the highest vacancy rate of the province's CMAs.
  • The Trois-Rivières (12.8 per cent) and Saguenay (15.6 per cent) CMAs experienced significant market easing.
  • The Sherbrooke CMA (9.8 per cent) also recorded an easing of its market.

Rents

According to the 2012 survey, the average rent for a standard room in a retirement home was $ 1,475. The breakdown of this result by unit type reveals a diverse picture.

For private rooms, the average rent is about $ 1,400 for single rooms and is over $ 2,000 for semi-private rooms. As for apartments, the average rent ranges from around $ 1,260 (bachelor suites) to approximately $ 1,900 (two bedroom apartment).

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at www.cmhc.ca/housingmarketinformation.

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Vacancy Rates (%) of Standard Spaces by Unit Type
Québec
Centre
Private Rooms
Semi-Private Rooms
Bachelor

One-Bedroom

Two-Bedroom

Total
2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012
Gatineau CMA 15.3 a 11.0 a -- -- 23.4 a 23.8 a 11.4 a 19.6 a 38.5 a 14.4 a 19.3 a 17.6 a
Montréal CMA 13.2 a 11.2 a 33.2 a 11.4 a 11.2 a 11.7 a 5.9 a 5.9 a 5.0 a 4.5 a 8.5 a 7.9 a
Québec CMA 5.5 a 6.6 a 33.4 a ** 6.4 a 5.7 a 5.6 a 4.0 a 8.4 a 5.5 a 6.2 a 5.2 a
Saguenay CMA 5.6 a 9.1 a -- -- 2.6 a 19.6 a 5.5 a 21.4 a ++ 10.6 a 4.6 a 15.6 a
Sherbrooke CMA 6.7 a 11.7 a -- -- 5.2 a 14.2 a 8.8 a 7.5 a 5.9 a 4.4 a 7.0 a 9.8 a
Trois-Rivières CMA 5.6 a 9.5 a ** ** 6.0 a 12.6 a 7.4 a 13.9 a 8.4 a 20.0 a 6.6 a 12.8 a
Drummondville CA 14.4 a 8.1 a -- -- 6.0 a 9.4 a 4.2 a 2.2 a ** 15.2 a 11.1 a 7.5 a
Shawinigan CA 3.7 a 2.7 a -- ** ** ** 1.6 b 6.1 b ** ** 3.0 a 3.9 a
Granby CA 5.6 b 9.7 b -- -- 2.8 b ** 3.0 b 1.3 a ** ** 4.6 a 6.2 a
Saint-Hyacinthe CA 13.1 a 15.4 a ** ** ** ** 14.6 a 16.8 a ** ** 15.7 a 17.3 a
Saint-Jean-sur-Richelieu CA 8.4 a 6.8 a -- -- ** ** 0.3 a 1.4 a 1.9 a 1.0 a 5.1 a 3.8 a
Province of Québec 9.5 a 9.6 a 18.8 a 11.2 a 9.7 a 10.9 a 6.1 a 7.0 a 7.6 a 6.1 a 8.1 a 8.4 a
Note:The following units are excluded from the table above: non-market/subsidy units; respite units; and, units where an extra charge is paid for Heavy-care (1 1/2 hours or more of care).
The following letter codes are used to indicate the reliability of the estimates: a - Excellent, b - Very good, c - Good, d - Fair (use with caution)
** Data suppressed to protect confidentiality or data is not statistically reliable.
No units exist in universe for this category

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