Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 08, 2010 08:15 ET

Canada Mortgage and Housing Corporation: November Housing Starts in Vancouver and Abbotsford

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 8, 2010) - Canada Mortgage and Housing Corporation (CMHC) reports that housing starts totalled 918 units across the Vancouver Census Metropolitan Area (CMA) during the month of November.

"Home builders have been busy constructing single family homes over the past eleven months," noted Robyn Adamache, Senior Market Analyst with CMHC. "Active areas include Vancouver City, Surrey, and Coquitlam, pushing single family starts in the Vancouver CMA to exceed the ten-year average level for this period. Yet total housing starts remain below the ten-year average level as home builders are focusing on smaller-scale and phased multiple family projects." There have been 4,295 single family and 9,207 multiple unit starts so far this year.

Multiple family units made up more than half of the 56 housing starts in the Abbotsford CMA for the month of November. Despite the uptick in multiple family starts in November, single family homes have accounted for the majority of residential building in the Abbotsford CMA this year. There have been 331 single family housing starts year-to-date.

Nationally, the seasonally adjusted annual rate of total housing starts grew to 187,200 units in November. In British Columbia, November's seasonally adjusted rate of urban housing starts moved lower to 18,900 units, from 24,000 units in October, mainly due to moderation in multiple family housing starts in November. Vancouver's seasonally adjusted annual rate of housing starts moderated to 10,900, from 16,900 last month.

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.

To view the map and tables accompanying this press release please click on the following link: http://media3.marketwire.com/docs/attach.pdf

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Contact Information

  • Canada Mortgage and Housing Corporation
    Robyn Adamache
    Senior Market Analyst
    (604) 737-4144 or Cell: (604) 787-9659
    radamach@cmhc.ca
    www.cmhc.ca