Home starts in Vancouver trended higher last month than in October.

Metro Vancouver home building on pace to set record

Urban-area apartments drove surge to 39,000 starts last month: CMHC

2016 is shaping up to be a record year for housing starts in Metro Vancouver, according to Canada Mortgage and Housing Corporation.

In its recent report, urban area housing starts across B.C. reached just more than 39,300 units in November, up from 37,700 in October.

About 27,000 of those units began construction in Metro Vancouver, primarily made up of apartment projects in Vancouver.

In the Abbotsford-Mission area however, housing starts were down in November, at 965 units compared to 1,152 units in October. This downward trend extended across all home types.

“Total housing starts trended higher in November due to a large number of apartment starts in the City of Vancouver,” said Robyn Adamache, CMHC Principal Market Analyst for Vancouver.

Still, other major urban centres like Abbotsford, Mission, Kelowna, and Victoria are seeing about one-third more housing starts this year compared to last.

“2016 is shaping up to be a record year for housing starts as builders add much needed supply in the region.”

Despite the increase, Greater Vancouver Home Builders’ Association CEO Bob de Wit said development is still “generally under-built,” and that more homes are still needed than what’s being built.

Following the implementation of the foreign buyers tax in Metro Vancouver by the provincial government, de Wit said custom-built houses and renovations have slowed down as a result.

Cities also being affected include Kelowna and Victoria, markets where some foreign buyers have looked as an alternative where the new 15 per cent tax doesn’t apply and where buyers are look at the senior-alternative markets.

De Wit said BC Housing’s report on warranty registrations – set to be released Monday – will show a better picture of what the future of housing looks like.


@ashwadhwaniashley.wadhwani@bpdigital.caLike us on Facebook and follow us on Twitter.

Just Posted

Uptown Noodlebox restaurant catches fire

Daycare evacuated while crews fight kitchen fire

Sooke hires two additional firefighters

Ben Temple and Grayson Kerr began Nov. 6

Pig’s Trotters maintain league-winning streak

Trotters win both League and Knockout Trophy in 2017, claiming trophies for last three years.

Can’t do home cannabiz in Victoria

Proposed bylaw increases home business from one to three

Oak Bay snags Colonist Cup in 1-0 battle

Oak Bay, Reynolds senior boys soccer teams head for provincials Nov. 22

Uptown Noodlebox restaurant catches fire

Daycare evacuated while crews fight kitchen fire

Federal funding to combat guns, gangs and opioid crisis

Public Safety Minister Ralph Goodale said illicit drugs are often main cause of guns, gangs violence

Riverview youth mental health centre proceeds

Replacement for Maples Treatment Centre first announced in March

Saanich gets behind new municipal spending rules

Mayor suggests other measures, such as term limits, needed to level playing field

Kaleidoscope Theatre start season with Secret Garden

Theatre troupe to stage Secret Garden, Peter Pan the panto and Pinocchio for 2017

Drunk driver ticketed after wrong-way rollover

Nanaimo man crashes on Inland Island Highway near Qualicum Beach

Dead boy’s father posts Facebook response after Appeal Court upholds conviction

David, Collet Stephan were found guilty in their son Ezekiel’s 2012 death from bacterial meningitis

Trudeau mania, Scheer enthusiasm in B.C. this week

Prime minister, Conservative leader drop in on Surrey, White Rock

Forecasters promote avalanche safety awareness to kick off season

Avalanche Canada advising backcountry enthusiasts to get proper training and equipment.

Most Read