October Housing Starts in Vancouver and Abbotsford
According to Canada Mortgage and Housing Corporation (CMHC), there were 1,447 housing starts in October in the Vancouver Census Metropolitan Area (CMA), bringing the year-to-date total to 12,584 homes.
Builders started 1,059 multiple family homes last month, of which 206 were townhouses and 116 were homes with secondary suites. “More than half of the new townhouse developments were in Surrey and Langley, while the majority of the new homes with secondary suites were in Vancouver City and Coquitlam,” said Robyn Adamache, Senior Market Analyst for CMHC.
The pace of new home construction was up in October in the Abbotsford CMA. There were 67 housing starts last month, compared to 52 starts during the same month last year. For the first ten month of the year, total housing starts in Abbotsford reached 418, compared to 298 during the same period last year.
Nationally, the seasonally adjusted annual rate of total housing starts edged down to 167,900 units in October. In British Columbia, October’s seasonally adjusted rate of urban housing starts moved lower to 24,000 units, from 26,400 units in September.