Housing has been a hot topic in Halifax recently, so here are some of the most recent statistics to keep you in the know (PLUS- stay tuned for some exciting new housing content coming this weekend!):

🏠 The cost of new houses went up 11.6% between 2020-2021, double the % from the previous year. The average home resale price also increased (+19.4%).

🏗 Construction of single-unit housing grew by 17% in 2020, while multi-unit housing declined by 1.8% from the previous year.

📈 Average rent prices have steadily increased. Landlords increased rent by 5% last year, despite a slight increase (+0.9%) in vacancy rate.

❗️11.4% of households in Nova Scotia are in core housing need. This means that they are not able to access suitable and adequate housing without spending more than 30% of income on shelter costs. Of these households, just over half (53.7%) live in Halifax and most (66%) are renters.

🏙 As of 2019, Nova Scotian residents were 69% homeowners, 30% renters and 1% living on reserves. Proportionally, the majority of renters (40%) and the private rental market (86%) are concentrated in the HRM.

🏘 There are nearly 12,000 subsidized rental housing units across Nova Scotia. The goal is to add 1000 new affordable units and preserve/supplement 2250 units in HRM by 2022.

💵 There is a provincial/federal investment of $513 million into affordable housing projects over 10 years planned through the National Housing Strategy.

👨‍👧‍👦 Seniors, youth, lone parents and single renters are the most vulnerable to affordability challenges. Many other intersectional aspects of identity such as gender, immigration status, ability, and ethnicity may also impact a person’s access to affordable housing.

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