REVENUE OPTIMIZATION & DEVELOPMENT PROGRESS
HALIFAX HOUSING FUNDAMENTALS
New supply has been absorbed by population growth from immigration, migration, and shift in apartment
rental demand.
4,000
3,000
Halifax
Housing Starts - Apt & Single
Total Apartments/Condos
Total Singles/Semi-Detached/Row
Average Total Starts
2,000
1,000
0
2009
2010
2011
Source: CMHC
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
YTD 2022
Total housing starts have averaged 2,600
dwellings over the past decade, however
the portion of multi-family units has
increased from 1/3 to 2/3 of starts.
L
4,000
3,000
2,000
1,000
0
2008
2009
2010
Source: CMHC
2011
2012
2013
Halifax
Housing Starts & Vacancy Trend
Total Starts
Vacancy (CMHC)
2014
2015
2016
2017
2018
2019
2020
2021
Vacancy at historic lows in
Halifax as demand for housing
outpaces new rental supply.
YTD 2022
March 2023 | Page 48
4.0%
3.0%
2.0%
1.0%
0.0%
Killam
APARTMENT REITView entire presentation