City of Surrey tracking empty home ownership as rental vacancy rate remains below zero

The City of Surrey says empty home ownership is at 6.2 per cent, and while it’s not at the same level as Vancouver, they’re keeping the issue “on the radar.”

“We’ve had some discussions with our colleagues from Vancouver and it would appear we’re not facing the same issues,” said manager of planning and development Jean Lamontagne.

Two years ago the city’s empty home rate was at 6.7 per cent.

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But when it comes to vacancy rates, Surrey has some common ground with Vancouver, “when you look at our vacancy rate we are below one per cent, which is very low,” said Lamontagne.

The latest data from the Canada Mortgage and Housing Corporation shows the city is facing a 0.6 per cent rental vacancy rate.

He said the city built 4,600 new homes in 2017, and 4,300 in 2016.

~With files from Simon Little