The latest report on vacancy rates and the rental prices in Estevan paints a very grim picture for anyone looking to find a place to rent in the city.
The Canada Mortgage and Housing Corporation released its year-end report last week and it showed that not only has Estevan's vacancy rate dropped again, the cost of rent has taken another substantial jump.
Based on numbers collected in October, the report says Estevan's rate is now 0.6 per cent, the lowest in the province. Lloydminster was the only other Saskatchewan community below one per cent, checking in at .9 per cent.
Conversely, the cost of rent has climbed to an average of $1,030, the highest average in the province by over $100.
The lowered vacancy rate was not welcome news to the City of Estevan who has been focusing much of their efforts on improving the situation.
"We were hoping it would move the other way," said Mayor Roy Ludwig. "Now that it is continuing to go down, we just have to be more earnest in our discussions with the housing minister in getting something in place."
Ludwig added the situation is especially dire for lower income families with rents rising. He noted the province had people in the city last week and the two sides will be speaking weekly until something is in place.
"We are looking at something that could be put up quickly. We have got some lots on City land; we were looking at condominiums or apartment-type that could be put up quickly.
"It just brings to the forefront the fact that we have to have these discussions with the ministry and then get out a request for proposals as quickly as we can with the intention of getting something in the ground early in 2013."
It's obvious some level of action is needed as the picture in Estevan seems to get bleaker with each new report. The recent release says there are no bachelor suites or three bedroom properties available in the city. The rate for two bedroom properties is .4 per cent while the rate for one-bedroom rentals is 1.2 per cent.
Prince Albert and Swift Current have the province's highest vacancy rates with both hovering around the six per cent mark. Regina is the only other centre below two per cent.
The most expensive rental accommodations in Estevan are two bedroom suites which are going for an average of $1,111. Three bedroom suites have an average of $1,101; one bedroom suites are averaging $944 and bachelor suites have an average of $657.
Saskatoon is second in the province for average rent at $918 while Regina is third at $896.
The report says "elevated energy exploration" has helped keep the job market in the area steady which has fuelled the continued rental demand.
Ludwig said the City recently agreed to fund a housing study which will take a look at the situation and tell them where their money would be best spent.
