There is mixed news for anyone hoping to break into Estevan's infamously tight rental market.
The latest report from the Canada Mortgage and Housing Corporation indicates the city's vacancy rate has improved in the past year. However, that improvement in the vacancy rate hasn't translated to lower prices as the average price of rent has also increased.
Based on information collected in April, the CMHC said Estevan's vacancy rate is 2.5 per cent compared to 1.9 per cent in April 2010. Although that is a slight improvement, it is still among the lowest in Saskatchewan, a fact the CMHC attributed to an increase in oilfield activity due to the interest in the Bakken oil play.
Properties with three or more bedrooms remain the hottest commodity among renters as the vacancy rate is again zero per cent. The vacancy rate for two bedroom accommodations is 2.4 per cent while the rate is 2.9 per cent for one bedroom suites. Both are slight increases over 2010. One area that saw area a sharp decrease was bachelor suites as the rate dropped from 11.5 per cent in 2010 to 3.7 per cent.
Provincially, the vacancy remained virtually unchanged at 2.5 per cent. Regina continues to have the tightest rental market at 0.7 per cent while Moose Jaw is second at 1.9 per cent. Swift Current, Saskatoon and Yorkton joined Estevan as the only communities to experience a rate increase.
Much to the chagrin of renters, Estevan continues to lead Saskatchewan in average rental prices. According to the report, the rent has climbed to an average of $902 a month, well ahead of Saskatoon and its average of $855.
Estevan also holds the lead for two-bedroom suites with an average of $956 and one bedroom suites at $875. Only Saskatoon and Regina were higher than Estevan's $964 average for three or more bedrooms suites. The average for bachelor suites is $533 which is also among the provincial leaders.
The provincial average is $813, up from $784 in 2010. Swift Current was the only community to see a decrease in its average while Regina had the highest increase at $51.
Thursday's report has renewed calls for a rent control system in Saskatchewan. The NDP opposition issued a press release Friday calling on the provincial government to take immediate action in light of what they called "alarming" increases across the province.
"These numbers are deeply disconcerting," said NDP Social Services critic David Forbes. "We need to see this strategy immediately so the government can begin to take action on what is a major problem for many Saskatchewan people. Rent is just unaffordable and it's clearly getting worse. Now is the time to bring forward a plan and start working on it."
Forbes reiterated the NDP's call on the government to introduce rent controls, which would prevent such massive rate hikes. He added the severe increases indicate the province is in desperate need of a housing strategy that includes next-generation rent control.
"Now is definitely the time for immediate action."
