CMHC: 2010 Housing Starts in Vancouver and Abbotsford

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 11, 2011) - Canada Mortgage and Housing Corporation (CMHC) reports that housing starts across the Vancouver Census Metropolitan Area (CMA) totalled 15,217 homes in 2010, close to their ten year average. There were 4,533 single family and 10,684 multiple unit starts in 2010.

Vancouver's new home construction sector ended 2010 on a strong note with 1,715 housing starts in December. "An uptick in apartment condominium starts in Vancouver City, Burnaby, and Port Coquitlam accounted for the year-end surge in homebuilding," explained Carol Frketich, CMHC's BC Regional Economist.

Annual housing starts in the Abbotsford CMA fell short of their ten-year average of 896 units. Concrete was poured for a total of 42 residential units in December, bringing the annual total to 516 homes started.

Nationally, the seasonally adjusted annual rate of total housing starts decreased to 171,500 units in December. In British Columbia, December's seasonally adjusted rate of urban housing starts moved higher to 27,900 units, from 19,000 units in November. Vancouver's seasonally adjusted annual rate of housing starts increased to 21,600 units in December from 10,900 units in November.

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/chmctabs110.pdf

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