The City of St. John’s has released their Housing Needs Assessment Report.

The study, presented by Turner Drake and Partners Ltd. shows the current housing situation in the capital city and predicts where it will go.

The report shows that affordability of housing is down, with the vacancy rate of rental housing decreasing from 6.5 per cent to 3.1 per cent since 2019 and the median cost of rent increasing by eight per cent since 2019. From 2010 to 2022, the median rent increased from $695 to $930, a near 34 per cent increase.

Housing prices are also increasing, the overall benchmark price in March 2023 set at $307,600, up 16 per cent from March 2019 and 29 per cent since March 2010.

20 per cent of those who responded had adults living in their home that would like to live independently, but could not due to affordability and availability.

The survey ran from March 27 to April 30, 2023 and was distributed through Engage St. John’s, municipal newsletters, social media, and stakeholder networks.

The report can be found online.