11/30/18 City of Kingston: Improving Kingston’s vacancy rate is a top priorityCity Matters News Release
November 29, 2018:
“There’s no question that building more housing is a top priority for the next council term. We’re ready to work with our community partners to create more housing and more affordable housing in particular,” says Mayor Paterson. “We’ll need to look at innovative ideas and build a comprehensive strategy to bring our vacancy rate back to a healthy level.”
Kingston’s vacancy rate has fallen to 0.6 per cent, according to the Canadian Mortgage and Housing Corporation (CMHC). This is the lowest vacancy rate in the province for the second year in a row. While new rental buildings are being built and planned, the report confirms that Kingston’s rental supply has been coming to the market at a slower rate.
Find out more about how the vacancy rate is calculated and what it means.
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