Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 09, 2010 08:15 ET

Canada Mortgage and Housing Corporation: August Housing Starts in Vancouver

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 9, 2010) - Canada Mortgage and Housing Corporation (CMHC) recorded 1,488 housing starts in the Vancouver Census Metropolitan Area (CMA) during August 2010, bringing the total number of Vancouver CMA housing starts to 9,493 for the year.

"Many centres across the Vancouver CMA have seen a rise in single detached housing starts in response to strong consumer demand for ground oriented housing. Not only are developers building in areas of raw land supply, but also there has been an increase in infill developments in areas such as Vancouver City, Burnaby and Richmond," said Robyn Adamache, Senior Market Analyst for CMHC. "Multiple family units still dominate new home construction activity, making up more than two-thirds of all housing starts in the CMA," noted Adamache.

The Abbotsford CMA recorded 40 housing starts in August, moving year to date totals to 308 home starts, with single detached homes accounting for about eighty per cent of the starts.

Nationally, the seasonally adjusted annual rate of total housing starts dipped to 183,300 units in August. In British Columbia, August's seasonally adjusted rate of urban housing starts moved higher to 25,400 units, from 20,100 units in July.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. 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 vital 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.

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