The number of available spaces in seniors’ residences decreased in the past year, while the rent for those spaces went up, according to the Canadian Mortgage and Housing Corporation’s (CMHC) chief economist.

The vacancy rate in seniors’ residences dropped to 8.1 per cent in 2015 from 8.7 per cent in 2014, according to a CMHC report released Wednesday.

“As was the case in 2014, the increase in the total number of spaces for seniors in 2015 was slightly outpaced by an increase in the total number of residents,” said CMHC Chief Economist Bob Dugan. “This led to a decrease in the overall vacancy rate in 2015.”

The survey distinguishes between two types of spaces in seniors’ residences.

Standard spaces are occupied by a resident who is paying market-value rent and receives no more than 1.5 hours of care per day. A non-standard space is described as one where a resident receives at least 1.5 hours of care per day, one used for temporary accommodation, and a space where rent is less than market value or subsidized. The survey did not include nursing homes and long-term care facilities.

 

Vacancy rates for all spaces varied across Canada, with a national average of 8.1 per cent. Here are those rates in order from highest to lowest, by province:

-Newfoundland and Labrador: 11.9 per cent

-Ontario: 11.5 per cent

-New Brunswick: 9.9 per cent

-Prince Edward Island: 9.4 per cent

-Saskatchewan: 8.7 per cent

-Nova Scotia: 7.7 per cent

-Quebec: 7.1 per cent

-Alberta: 6.6 per cent

-British Columbia: 6.1 per cent

-Manitoba: 4.4 per cent 

Meanwhile, the average rent for bachelor units and private rooms, where at least one meal is included, rose by 3.1 per cent from $2,043 per month in 2014 to $2,107 in 2015, the report found. Seniors in Ontario paid the most for spaces -- $2,815 -- while seniors in Quebec paid the least -- $1,521.

Dugan said it’s important to track access to seniors’ residences, as they are becoming increasingly popular with Canadian seniors, who perhaps aren’t ready for a nursing home yet.

“This is really a market alternative for seniors that require maybe a little less care and it’s something that I think will grow in popularity. And I think probably the need for this type of unit will grow as the population ages and people will start looking for more amenities that are targeted towards senior citizens … such as on-call nursing care,” Dugan told BNN.

According to the report, 224,962 seniors lived in the 2,794 residences surveyed. Across the country, there were 224,342 spaces available in those residences, with 73.8 per cent being standard spaces.

The full CMHC report can be found here: https://www03.cmhc-schl.gc.ca/catalog/productDetail.cfm?cat=160&itm=31&lang=en&fr=1434554003979.