Here are some recent trends that I am currently seeing in renting in the Halifax area.
#1. There has been an increase in requests for short term rental homes (4-6 month period) while new homes are being built.
#2. Many of the homes who were long term rental properties in the past have now become vacation rentals that are rented out of a short term basis on sites like AirBNB, VRBO and this is causing an increased demand in long term rentals in the area.
#3. Baby Boomers are down sizing and some are getting out of home ownership and renting low maintenance homes in their retirement.
#4. There is currently a strong demand for long term Single Family, Pet Friendly homes in the Halifax area.
Contributing factors I believe are: an increase of jobs in the area (Irving Shipbuilding, new IKEA, Atlantic Gold, Medical field jobs) , the downsizing baby boomers, the millennial’s taking more time in getting into the housing market and also mortgage lending rules changing. Also the affordability of housing in our city compared to larger cities is enticing people to relocate to Nova Scotia from other provinces and from many international countries as well.