Freedom 75 and Low Vacancy Rates

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Lische

With the dramatic increase in the seniors’ population as the baby boom moves into this age category, the following information is troubling, but not unexpected-seniors who are selling their house to move into a retirement home should ensure they have a place to go.

Statistics Canada has released their 2016 Seniors’ Housing report, with a  download report available by province here.

For the fourth year in a row, the vacancy rate for seniors’ independent living facilities in British Columbia  has declined, from 9.8 per cent in 2015 to 5.7 per cent in 2016.  Why? Seniors may be living longer, but they are also selling their accommodations to move into these facilities.  The average rent for a seniors’ retirement home is also increasing to an average of $3,329.00 a month.

British Columbia’s Seniors’ Advocate Isobel Mackenzie is aware of the challenge, and has been reporting on the gaps in…

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