Canadian housing starts fell by 8.3k (3 per cent) to 273.8k units in June at a seasonally-adjusted annual rate (SAAR). Comparing year-over-year, starts were down from June of 2021 (1.6 per cent). Single-detached housing starts declined 3.9 per cent to 72.1k, while multi-family and others fell 2.6 per cent to 201.8k (SAAR).
In British Columbia, starts rose 34.6 per cent in June, rising to 56.4k units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts declined 10.3 per cent m/m to 6.9k units while multi-family starts rose 48.4 per cent to 46k units. Starts in the province were 15.3 per cent below the levels from June 2021. Starts were up by 7.9k units in Vancouver, 6.4k in Kelowna, and 1.0k in Abbotsford from last month, while declining by 1.3k in Victoria. The 6-month moving average trend rose 0.3 per cent to 43.1k in BC in June.
Copyright British Columbia Real Estate Association. Reprinted with permission.