Zumper report shows high demand, low vacancy for Sask. students looking for housing – Saskatoon | 24CA News
Regina and Saskatoon have taken the twenty first and twenty second spot when it comes to rental affordability within the nation based on Zumper’s August lease report.
Zumper mentioned the common worth of 1 and two bedrooms in Saskatoon are each at $1,130, with the costs going up 14.1 per cent year-over yr.
“It’s pretty affordable comparatively,” mentioned Crystal Chen, spokesperson for Zumper. “It’s pretty close to the national median where one beds are up about 15 per cent. It’s about five to $600 more affordable than the national median every month.”
Chen mentioned that the 17 per cent year-over-year improve on two bedrooms in Saskatoon is roughly two per cent larger than the nationwide median.
“There is a big demand for housing there and currently not enough housing supply and that is why rents are up so high,” Chen mentioned.
Chen mentioned that based on housing seasonality, most individuals are shifting close to the top of summer time and into fall when leases are ending, and college students are shifting cities for post-secondary packages.
University of Saskatchewan college students’ union president Ishita Mann mentioned that college students are scuffling with the price of dwelling whereas shifting for post-secondary faculty.
“Areas close to the university are almost holding some sort of premium and are costing a lot of money that the average student just cannot afford with rising tuition costs as well,” Mann mentioned.
Mann believes the lease will increase had been instigated by the work-from-home shift.
“Many students were learning from abroad when they were outside of the country or just living in their home cities in Saskatchewan, so coming to Saskatoon and now having to attend classes in person does mean that they have to compete with an already existing population here.”
Chen famous that the rental emptiness fee has dropped constantly in Saskatoon for 5 consecutive years, sitting at 4.2 per cent.
“Canada had the highest number of recent immigrants recorded moving in and that population drives up demand and creates more competition for housing and Canada has not had a lot of new construction,” Chen mentioned.
According to the report, Regina is sitting in an analogous scenario with the common worth of a one-bedroom condominium at $1,160 per 30 days and $1,360 for a two-bedroom.
The metropolis additionally has one of many fastest-growing year-over-year one-bedroom rents, with lease climbing 19.6 per cent in August, placing it in fourth place behind Toronto.
The solely cities experiencing a year-over-year decline had been Kelowna, B.C. and Windsor, Ont.
“I don’t see the demand in Canada for housing lessening anytime soon since the population is growing and think until new housing is built, it’s going to stay high and rising,” Chen added.
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