Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 15, 2016 08:15 ET

Vacancies in Saskatchewan's Seniors' Residences Unchanged in 2016

SASKATOON, SASKATCHEWAN--(Marketwired - June 15, 2016) - According to Canada Mortgage and Housing Corporation's (CMHC) 2016 Seniors' Housing Survey, the average vacancy rate for a standard retirement space in Saskatchewan was 10.6 per cent in 2016, unchanged from the previous year. Between the province's two major centres, the vacancy rate for standard spaces was higher in Regina at 11.2 per cent, up from 6.8 per cent in 2015. In Saskatoon, the vacancy rate declined to 8.2 per cent in the 2016 survey from 9.6 per cent in the previous survey, as the number of standard spaces decreased from the previous survey. For the Rest of Saskatchewan, the vacancy rate for standard spaces was 12.7 per cent this year, down from 14.1 per cent in 2015.

The average monthly rent for a standard space in Saskatchewan was $2,768 in 2016 for all bedroom types, up from $2,667 in 2015. The additional amenities and services provided in seniors' residences typically push rents above those in the purpose-built rental market. Across the province, all bedroom types reported an increase in the average monthly rent for a standard space. The largest rent increase, in dollar terms, was reported in suites with two bedrooms or more at $3,519 in 2016, up from $3,333 in the previous year.

In 2016, the total number of seniors' residences increased six per cent to 177 residences from 167 in the previous year. There were 525 new spaces in 13 residences opened in 2014 that were included in the survey for the first time this year. One other residence that opened before 2014 but was surveyed for the first time in 2016 added 13 more spaces. In total, the number of retirement spaces increased to 6,900 from 6,478 spaces in 2015. Of the 6,900 spaces in the survey, 66 per cent or 4,557 spaces were identified as standard spaces, while the remaining spaces were non-standard spaces such as heavy care, non-market or rental subsidy spaces, and some being used to provide respite care. A small portion of spaces could neither be identified as standard nor non-standard spaces in the current survey.

CMHC's 2016 Seniors' Housing Survey targeted residences where the majority of residents are seniors who have access to additional services not offered in traditional rental structures, such as an on-site meal plan. Seniors' residents were offered a variety of different amenities depending on the residence. As in previous years, the most common amenity in Saskatchewan reported in the current survey was 24-hour bell service, which was provided in nearly 85 per cent of all structures. The second most common amenity was on-site nursing services, which were available in nearly 38 per cent of seniors' residences. Other popular amenities accessible to residents included on-site medical services, internet, exercise facilities, and transportation services.

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

For more information, visit our website at www.cmhc.ca or follow us on Twitter, LinkedIn, Facebook, and YouTube.

Addtional data is available upon request

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