That's down from 5.9 per cent last fall. Dawson Creek on the other hand has seen a rise to 3.5 per cent this year, from only 1.4 per cent last year.
Overall, vacancy rates in British Columbia have risen as well, from 2.4 per cent in October 2011 to 2.7 per in 2012. The report claims this is due to job growth and migration patterns, causing a slower rate of rent increase in existing buildings.
Rent in both northern cities also increased, from an average of $840 a month in 2011 to $898 in Fort St. John and $821 to $869 a month in Dawson Creek. The biggest increases came from one bedroom apartments in Fort St. John, which increased 8 per cent. Two bedrooms are right behind, with a rent increase of 7.8 per cent. It now costs an average of $784 to rent a one bedroom apartment in the Energetic City, up from $724 last year and $915 for a two bedroom apartment.
Rents between the two cities are now very similar across the board, with almost identical costs for bachelor, and 1 bedroom apartments. Two bedroom apartments are still cheaper in Fort St. John, at $988 a month, compared to $1,015 in the Mile 0 City.
Rent percentage increases are calculated only using buildings that were existing in both 2011 and 2012, so as not to skew results.
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