Construction is ongoing in Kelowna where the city hopes an influx of rentals will help the market in the coming years. Here, Jonathan Elbrace works on a building in Rutland. - Image: Carli Berry

2017’s Top Stories: Kelowna’s vacancy rate lowest in Canada

Renters found it increasingly difficult to find a place to live in Kelowna in 2017

In 2017, Kelowna’s rental market nearly dried up completely and at the close of the year, the city had the lowest vacancy rate in the country.

Kelowna has a 0.2 per cent rental vacancy rate according a report from the Canadian Mortgage and Housing Corporation. In 2016, CMHC reported the vacancy rate to be at 0.6 per cent.

Related: Woman targetted in Kelowna rental scam

Diminishing supply has led to a rise in cost and CMHC reported that Kelowna also had the biggest rent-rate hike in the country.

In September, a report released by PadMapper analyzed hundreds of thousands of rental listings in the 25 largest cities in the country.

In the report, Kelowna moved up the monthly Top 10 for most expensive rental markets, outpacing Ottawa to rank as the sixth most expensive city in Canada with one bedroom rent growing 3.8 percent to average $1,100.

The average vacancy rate for purpose-built rental apartment units across Canadian centres with a population of 10,000 or more decreased from 3.7 per cent in October 2016 to 3.0 per cent in October 2017, according to Canada Mortgage and Housing Corporation’s 2017 Rental Market Survey.

Related: 2017’s Top Stories: PLANKelowna’s Beach Walk

While it’s getting more difficult to be a renter in Kelowna, there could be relief ahead.

Coun. Luke Stack said earlier this year that the city had implemented some policies that were aimed at increasing the city’s rental stock.

“One of the things we have in the works at city council is tax incentives for purpose built rental housing,” Stack said this summer.

“That has been successful and we have approximately 1,500 rentals under construction. I’m optimistic that when those come along it may give us some relief.”

Many renters had problems finding accomodation, especially those with pets.

“(I’ve) got no friends, family, anything here. I’ve got one friend but she lives in an apartment building but she has a cat and it’s no dogs allowed,” said Vance Deakin.

He said trying to find a place in Kelowna that allows dogs has been “frustrating.”

“No one wants to rent with dogs. I don’t know why but they’ll take a cat,” he said.

To report a typo, email: edit@kelownacapnews.com.


@KelownaCapNews
newstips@kelownacapnews.com

Like us on Facebook and follow us on Twitter.

Just Posted

Three people taken to hospital after a fire at Rutland home

The fire which was located on the second floor of the townhouse complex is now out

Multiple crashes, including a bus, plague Highway 97

Thursday’s evening commute in Kelowna slowed by collisions

Health minister announces new urgent care centre in Kelowna

Adrian Dix made the annoucment Thursday at the Capri Centre

Provincial Mobile Medical Unit makes an appearance in Kelowna

The high tech hospital on wheels provides medical care for rural communities and during emergencies

Special Olympics fundraiser comes to downtown Kelowna

motionball Marathon of Sport kicks-off in City Park Saturday

VIDEO: Trudeau asks Canada to look to current, not past, actions on race

Liberal leader says he never spoke about the racist photo because he was embarrassed

Fire at Kelowna home sends three to hospital

The fire which was located on the second floor of the townhouse complex is now out

Reports of chaos in Penticton, involving police cruiser and possible shots fired

Residents also reported hearing shots fired at the same time as the crash

Horvat paces Canucks to 6-1 pre-season win over Oilers

Vancouver improves to 3-1 in NHL exhibition action

Legislature gifts, clothing, travel need better control, B.C. auditor says

Audit follows suspensions of managers by Speaker Darryl Plecas

‘Really disturbing:’ Trudeau’s racist photos worry B.C. First Nation chief

Wet’suwet’en Chief concerned the photos will sow fear in Indigenous communities

‘Unacceptable’: What politicians have to say about Trudeau in blackface

Calgary Mayor Naheed Nenshi: ‘When I saw that picture last night, certainly it was a sucker-punch’

‘He’s trying to kill me’: Victoria police commandeer boats to reach screaming woman

No charges laid and civilians to be awarded honours after incident on Gorge Waterway

South Okanagan driver held at gunpoint, car-jacked near Penticton

Penticton RCMP are asking for the public to keep an eye out for the suspect, stolen vehicle

Most Read