Nanaimo Real Estate

An increasing number of Nanaimo homeowners are asking for secondary suites when they build or buy new homes.

City planners attribute the real estate trend to the legalization of such units that have added to Nanaimo's rental stock and forced some companies to change how they build houses.

About 50% of new homes had built-in secondary suites last year, according to building permits issued from city hall. Developers testify to the data as well because more homeowners want to have the legal suites to help pay for their mortgages. Owners of older homes have also started adding on to their houses.

"When people come in with new single-family home permits, most are including a permit to build secondary suites," Horn said. "This certainly has increased our rental stock.

Nanaimo has nearly 500 new secondary suites since 2005, just after the city legalized such construction. That year, 13% of new homes had additional suites. That figure jumped to 30% by 2007.

People want them, explained Jacquie Kinnersley, project manager at Georgia View Home Builders. Several years ago, the company would not build homes with secondary suites, but clients are now demanding them.

"We have three houses on the go right now because that's exactly what people are looking for," she said.

The vacancy rate has increased to 3.3%, up from 0.6% last year, according to the Canada Mortgage and Housing Corporation. Its twice-annual rental market survey showed that apartment rents also increased during the same period, climbing an average of 4.3% for bachelor suites and 1.9% for three-bedroom homes.

DSpalding@nanaimodailynews.com

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Enjoy!  Matt.