Quote:
Originally Posted by HfxExpat
I wonder if this three-year stretch of data will give some developers more confidence about proceeding with some more ambitious projects. Eight thousand new people per year need to live somewhere!
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The apartment vacancy rate in Halifax has been going down too. It used to be around 3-4% and now it is down close to 1%, the lowest it has ever been (
CMHC).
This implies that the number of new apartments has to go up by even more than the increase in population growth, because it can no longer be fueled much by newcomers to the city moving into existing vacant apartments.
One thing that changed about Halifax demographics is that the federal government removed the very low caps on provincially-sponsored immigration to Nova Scotia. The cap used to be something like 300 a year (in the Harper era) while SK or MB would have caps in the thousands. I think PEI may have even had a higher cap than NS (Charlottetown is growing a lot too). Now NS is more in line with other provinces.