Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

April 11, 2012 08:15 ET

British Columbia Housing Starts in March

VICTORIA, BRITISH COLUMBIA--(Marketwire - April 11, 2012) - Canada Mortgage and Housing Corporation (CMHC) reports 1,622 housing starts in provincial urban areas1 during March, up from 1,436 housing starts in March 2011. Both multiple-family and single-detached housing starts increased compared to March 2011 levels.

"Residential construction in British Columbia is running about 14 per cent ahead of last year's levels due to pick-ups in single-detached home starts and multiple-family construction," said Carol Frketich, CMHC's BC Regional Economist. During the first three months of 2012, 1,307 single-detached and 4,546 multiple-family homes were started.

Home construction in the Vancouver Census Metropolitan Area (CMA) is driving this trend. Housing starts in the Victoria CMA were down 10 per cent year-to-date and down two per cent in the Kelowna CMA.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, and to download CMHC's housing reports, please visit CMHC's website at www.cmhc.ca/housingmarketinformation or call 1-800-668-2642.

Preliminary housing starts numbers for selected centres are summarized in the attached table:

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1Urban areas have a population of 10,000 or more.

British Columbia Housing Starts for Selected Centres1
MARCH
Single Detached² Multiples3 Total
2011 2012 Change 2011 2012 Change 2011 2012 Change
Vancouver CMA 242 236 -2% 716 971 36% 958 1,207 26%
Victoria CMA 36 55 53% 133 35 -74% 169 90 -47%
Abbotsford-Mission CMA 20 19 -5% 87 4 -95% 107 23 -79%
Kelowna CMA 23 26 13% 8 18 *** 31 44 42%
Chilliwack CA 26 24 -8% 8 40 *** 34 64 88%
Kamloops CA 9 17 89% 6 1 -83% 15 18 20%
Nanaimo CA 13 16 23% 11 28 *** 24 44 83%
Prince George CA 2 8 *** 0 0 ## 2 8 ***
Vernon CA 8 12 50% 2 2 0% 10 14 40%
Urban B.C. 430 475 10% 1,006 1,147 14% 1,436 1,622 13%
Source: CMHC

YEAR-TO-DATE MARCH
Single Detached² Multiples3 Total
2011 2012 Change 2011 2012 Change 2011 2012 Change
Vancouver CMA 625 700 12% 3,183 3,931 23% 3,808 4,631 22%
Victoria CMA 131 119 -9% 190 169 -11% 321 288 -10%
Abbotsford-Mission CMA 47 47 0% 120 56 -53% 167 103 -38%
Kelowna CMA 66 82 24% 56 38 -32% 122 120 -2%
Chilliwack CA 41 45 10% 17 50 *** 58 95 64%
Kamloops CA 31 41 32% 152 5 -97% 183 46 -75%
Nanaimo CA 48 47 -2% 94 187 99% 142 234 65%
Prince George CA 5 11 *** 36 4 -89% 41 15 -63%
Vernon CA 17 25 47% 3 14 *** 20 39 95%
Urban B.C. 1,169 1,307 12% 3,962 4,546 15% 5,131 5,853 14%
Source: CMHC
1 Includes urban areas of 10,000+ population ²Single Detached refers to single family homes.
2 Single Detached refers to single family homes.
3 Multiples refers to semi detached, townhouse, and apartment units.
Effective January 2011, data includes market housing on First Nations reserve lands in urban areas.
*** Per cent change >100%
## Undefined

Contact Information

  • Canada Mortgage and Housing Corporation
    Carol Frketich
    BC Regional Economist
    (250) 363-8042 or Cell (604) 787-5598
    cfrketic@cmhc.ca
    www.cmhc.ca