A new study showed that a construction boom has inflated the number of vacant apartments in Halifax, reports The Chronicle Herald.
According to a survey of private rental apartments by Canada Mortgage and Housing Corp., apartment vacancy is also increasing in other Nova Scotia urban centres, but for different reasons.
The surveyfound the vacancy rate in Nova Scotia’s urban areas in October was 3.7%, up from a rate of 3.4% recorded in October 2012.
The vacancy rate in metro grew to 3.2% in October, from 3% in October last year. With an inventory of about 42,382 apartments, a vacancy rate of 3.2% represents more than 1,350 vacant units.