Steinbach gets top marks for rentals

By Marianne Curtis

   The City of Steinbach has been recognized as great place for young people to settle down because the housing market is affordable.

   Steinbach recently made its first appearance in the Canada Mortgage and Housing Corporation’s (CMHC) recently released Rental Market Survey for 2008. In the survey, the community was highlighted as an urban center that is experiencing rapid growth

   Steinbach Mayor Chris Goertzen says that the survey shows that Steinbach has great housing and employment advantage. 

   “Steinbach is a great place for young people entering the work force,” said Goertzen. “We have many employment opportunities and our rental rates are up to 20% lower then the provincial average. Steinbach’s youth have a great housing and employment advantage compared to other parts of Manitoba.”
   Steinbach is highlighted as an urban centre experiencing rapid population growth resulting from extensive international immigration and significant housing market activity as a result of economic expansion.
   “Lower rental rates are always a positive for people first starting out on their own,” said Goertzen. “Steinbach needs to see continued growth in the rental property market to maintain this advantage for our young workers.”

   On the survey, statistics show that in 2007, 92% of immigrants went to four centres: Winnipeg – 76%; Winkler – 6.5%; Brandon – 5.9%; and Steinbach 3.4%.  It also shows that the average vacancy rate in Manitoba is 0.9%: Steinbach – 1.6%; Portage La Prairie – 4.6%; and Winnipeg is 1.0%

   The survey also reiterates that rent across the province are increasing with an average two-bedroom apartment costing $748. Steinbach has been listed as well below the provincial average with an average of $623.

   Finally, according to the survey Steinbach led the province (not including Winnipeg) in single detached housing starts with 130 starts in 2008. This is a 15% increase from 2007 when there were 113 starts.
   The Rental Market Survey is conducted twice a year in April and October and is completed via a combination of telephone interviews and site visits. The purpose of the survey is to estimate the relative strength of the rental market while providing vacancy and availability rates, as well as average rates for both new and existing structures.


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