CMHC releases inaugural rental turnover study

The Canada Mortgage and Housing Corporation has released the results of its pilot survey which aimed to track tenant turnover in purpose-built rental units. The Vancouver-based study found that, in the year to October 2015, the turnover rate was 19.2 per cent in the Vancouver CMA. Most areas within the CMA saw turnover rates of between 10 and 30 per cent.

Turnover was highest (48.3 per cent) near the University of BC, unsurprising given the changeover of students during the survey period. The lowest turnover was seen in Southeast Vancouver (8.2 per cent).

The study found that there may be a correlation between areas of high demand and low rent; and their turnover rates. It also found that there appears to be a shift away from the high-rent areas towards the more affordable suburbs. However, CMHC stresses the risk of drawing definitive conclusions from a single period of data.

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