Whether you are looking for a rental, seeking an existing home or trying to buy a new one, the same problem exists; and according to local industry leaders, the first half of 2023 is unlikely to bring much relief.We deliver the local news you need in these turbulent times on weekdays at 3 p.m.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
Meanwhile, Burgess’s experience as a landlord brought home the wider issue. When her tenants in her small older home gave notice, she advertised her property.Cameron Choquette, CEO of the Saskatchewan Landlord Association, verified that rental vacancies have “trended down” through the fall and early winter, even as prices rose.According to rentals.
Nicole Burgess, SHRBA CEO, stands in front of the construction site of a new affordable housing development in Rosewood.“As we wait for new properties to come on the market in the first quarter of 2023, we expect that vacancy will remain tight,” Choquette said.“However, there is a lack of more affordable rental housing and a lack of subsidized housing for the lowest-income folks in the province, which is the segment of the population most squeezed by rising costs,” he said.
He does see some hope on the horizon and noted that Saskatchewan is the most affordable place to rent in the country. Chris Guérette, CEO of the Saskatchewan Realtors® Association, pointed to another housing policy that may shift in 2023. “If the banks are saying that, to me, that’s an indication that maybe we are not going to see interest rates lower.”Guérette has often said that inventory on the existing housing side below $500,000 is very low — too low — and is hampering sales. While demand has slowed, it is still there.
Guérette said all levels of government must come together to address the housing problem. Low inventory, little building and a tight rental market can’t continue for long, especially if the Saskatchewan government sees its population growth goals come to fruition.
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