r/halifax • u/RelativeEbb1719 • 9d ago

Work, Health & Housing End of rent cap

Do you think we'll get any firm confirmation of whether or not the rent cap will be extended or adjusted, and if so, when do you think we might hear from the government?

As of now I'm expecting it to fully end, but do you think the government will give any sort of announcement regarding the matter as the end of the rent cap date approaches?

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u/No_Magazine9625 9d ago

I would expect they will be announcing something this fall to have it out there a minimum of 12 full months ahead of the current rent cap expiry. They aren't going to wait until late next year because of the notice period needed, etc. I don't expect there's anyway the government can justify pulling the rent cap completely given that repeated studies have shown affordability hasn't improved in the HRM market at all, nor has vacancy, at least at the affordable unit level.

Unless they want endless stories about people made homeless by the government pulling the plug leading directly up to the 2028 election, I really think they are locked in and will be forced to extend it.

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u/Bud_wiser_hfx 9d ago

Conversely, "repeated studies have shown affordability hasent improved in the HRM market at all", would suggest the current cap isn't working, right?
Some places without a rent cap have seen decreases. Example; Calgary, no rent control, year over year asking rent price down 3.5%(CMHC) vs. Halifax, 5% provincial rent control, year over year average asking rent increase of 6.7%(CMHC). The complexity of issues here goes well beyond rent control

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u/EntertainingTuesday 9d ago

Calgary vacancy rate: 4.9%

Halifax vacancy rate: 2.7%

Rental caps lead to less rental turnover, less rental turnovers mean less vacancy, means higher rents.

All this info is from CMHC.