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The housing market remains balanced in Sept-Îles and Baie-Comeau

In Sept-Îles as in Baie-Comeau, the average vacancy rate has remained higher than 3 per cent over the past year. This threshold represents, according to the Canada Mortgage and Housing Corporationmarket equilibrium.

A decrease in available housing is nevertheless observed in Sept-Îles. The vacancy rate there fell, from October 2020 to October 2021, from 5.8% to 4.1%.

It is apartments with three or more bedrooms that are now more difficult to find, having dropped from 4.9% to 1.2% vacancy. Two-bedroom apartments follow, with a variation of 3% to 1.6%.

In Baie-Comeau, the Canada Mortgage and Housing Corporation recorded a very small increase in available housing: this statistic went from 3.7% in 2020 to 3.8% in 2021. The increase is a little more marked in the Marquette sector.

And the price?

The increase in the monthly price of rent is more marked in Sept-Îles. On average, the payout went from $679 to $692. The most significant increase affects studios, now averaged at $588 per month, or $75 more than in 2021.

In Baie-Comeau, the cost of rent remains relatively stable. The average bill has jumped, overall, only two dollars. According to Canada Mortgage and Housing Corporationit increased by 11 dollars in the Mingan sector, but fell by 9 dollars in the Marquette territory.

While the price of two-bedroom units has dropped by $14 in Baie-Comeau, it now costs, on average, $53 more to rent a unit with three or more bedrooms.

The Canada Mortgage and Housing Corporation compiles data for agglomerations of 10,000 or more inhabitants.

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