Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 17, 2015 08:15 ET

Vacancy Rate Unchanged in Seniors' Residences in Manitoba in 2015

WINNIPEG, MANITOBA--(Marketwired - June 17, 2015) - According to Canada Mortgage and Housing Corporation's (CMHC) 2015 Seniors' Housing Report released today, the overall vacancy rate in senior's rental residences in the province of Manitoba was 4.6 per cent in 2015, unchanged from where it stood in 2014.

The stable vacancy rate is consistent with a moderate increase in the population of seniors in Manitoba supporting demand for an increased number of spaces. Among the different bedroom types in Manitoba's seniors' rental residences, one-bedroom units saw the highest vacancy rate at 4.7 per cent in 2015, up from four per cent in 2014. This type of unit also saw its overall universe increase by 109 units or four per cent since 2014 which contributed to the increase in vacancy rate. The lowest vacancy rate was found in bachelor spaces with a vacancy rate of 3.9 per cent, down from 5.9 per cent one year earlier. Vacancies in two-bedroom units also registered a decline, moving from 6.2 per cent in 2014 to 4.2 per cent in 2015.

CMHC's Seniors' Housing Survey covered a total of 36 structures across the province in 2015, one additional structure since 2014. All but five of these structures were located in the Winnipeg CMA (Census Metropolitan Area). Within these structures there were 4,039 spaces, four per cent more than in the 2014 survey. The average rent charged for seniors' standard spaces of all types on a province-wide basis was $2,565 per month in 2015, compared to $2,447 in 2014 Rents ranged from $2,165 for a bachelor suite to $2,978 for two-bedroom and larger units.

There are a number of amenities and services typically offered at seniors' residences, which are not generally found in the purpose-built rental market. These amenities include medical services, on-site meal plans, and various entertainment and recreational activities. All residences included meal services in the rent with 57.1 per cent of all structures in this year's survey reporting the inclusion of two meals per day. This also represented a slightly higher proportion from 2014, when 51.6 per cent of structures offered this kind of plan. In addition to meal services, on-site medical services were available in 22.8 per cent of all structures in 2015, up from 18.2 per cent in 2014. Structures outside the Winnipeg CMA were more likely to have on-site medical services available as 40 per cent of facilities in the rest of Manitoba offered this service. The other most common amenities available were exercise facilities, a 24-hour call bell, and transportation service.

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.

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