Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 15, 2016 08:15 ET

Vacancy Rates Decreased in Seniors' Residences in Manitoba in 2016

WINNIPEG, MANITOBA--(Marketwired - June 15, 2016) - According to Canada Mortgage and Housing Corporation's (CMHC) 2016 Seniors' Housing Survey, the vacancy rate for standard spaces in Manitoba's seniors' rental residences was 2.7 per cent in 2016, 1.9 percentage points lower than in 2015.

The decrease in the vacancy rate is consistent with the population growth of seniors in Manitoba, creating additional demand for spaces. Units with two or more bedrooms recorded the highest overall vacancy rate for standard units in Manitoba, at 2.9 per cent. Forty three units of this type were added in 2016, the most out of any unit type. Bachelor suites and one bedroom suites had vacancy rates equal to the overall provincial average of 2.7 percent; down from their respective 2015 levels of 3.9 percent for bachelor suites and 4.7 percent for one-bedroom suites. The decrease in vacancy rates for one-bedroom suites was due to a contraction in the universe of one-bedroom suites classified as a standard space. Over 100 suites were reclassified from standard spaces to unknown spaces in 2016.

There were 39 seniors residences surveyed across the province in 2016 of which three structures were built since 2015. Only seven of the 39 structures surveyed are outside Winnipeg. Within these structures there are 4,174 units, which housed 4,515 residents. Average monthly rent for any type of standard space in Manitoba rose $15, to $2,580 in 2016. Rents ranged from $2,107 for a bachelor suite to $3,002 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. Only seniors' facilities offering an on-site meal plan qualify for the survey, and 92 per cent of facilities in the 2016 survey opted to include the meal plan as part of the rent. Most structures in the province, 59 per cent, included two meals in the rent. This represented a slightly higher proportion from 2015, when 58 per cent of structures offered this kind of plan. In addition to meal services, on-site medical services were available in 22 per cent of all structures in 2016, little changed from the year before. Structures outside the Winnipeg CMA were more likely to have nursing services available as 43 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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