Steve Flynn  RE/MAX Crest Realty- Burnaby 

Cell: 604.785.3977 |


Canadian Housing Starts - March 8, 2015

Canadian housing starts jumped close to 30 per cent in February following a dip in activity to start the year. Total housing starts were 212,594 units at a seasonally adjusted annual rate (SAAR).   The six-month trend in Canadian housing starts of 198,880 was up slightly.  

Housing starts in BC were the highest on record in February, reaching an astounding 50,780 units SAAR. The record-setting pace of new home construction was the result of record setting pace of starts of apartments and other multi-family units, which were up 183 per cent on a year-over-year basis. 

Looking at census metropolitan areas (CMA) in BC, total starts in the Vancouver CMA were up 199 per cent year-over-year in February due to a record setting month for multiple unit starts. In the Victoria CMA, housing starts were up 46 per cent year-over-year with strong gains in both single and multiple starts. Home construction in the Kelowna CMA also posted strong gains as starts of multiple units hit an 8 year high and total starts increased 253 per cent year-over-year. Housing starts in the Abbotsford-Mission CMA were up 49 per cent in February on broad strength in both single and multiple units starts. 

Copyright British Columbia Real Estate Association. Reprinted with permission.


No comments

Post Your Comment:

Your email will not be published
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.