B.C. housing starts fall in December

Housing starts in B.C. fell in December, although total starts in the month were relatively flat compared with a year ago, Canada Mortgage and Housing ...

Housing starts in B.C. fell in December, although total starts in the month were relatively flat compared with a year ago, Canada Mortgage and Housing Corp. announced January 9.

CMHC’s six-month moving average of the monthly seasonally adjusted annual rate (SAAR) for housing starts showed 20,227 starts in December, down from 22,043 starts in November.

Actual single-detached starts fell in December but were balanced by an equivalent rise in multi-family starts.

There were 511 single-detached home starts in December, compared with 547 starts in the same month in 2011. Multi-family starts, in contrast, totalled 1,076 starts in December, compared with 1,047 starts in December 2011.

“An increase in multiple-family housing starts in 2012 boosted residential construction for the year above the previous year's level,” said Carol Frketich, CMHC's British Columbia Regional Economist. “However, urban housing starts in B.C. trended lower during the final four months of 2012, reflecting a slowdown in apartment starts,” she added.

Housing starts in Vancouver similarly are declining.

CMHC statistics show that the six-month SAAR for Metro Vancouver also fell to 14,722 units in December from 15,056 units in November.

gkorstrom@biv.com

@GlenKorstrom

comments powered by Disqus

More from Real Estate

Victoria developer spearheads huge harbour industrial makeover

Read Article

Builders brace for new energy rules

B.C. Energy Step Code implementation looms

Read Article

Transit now the backbone of emerging communities

Rail lines and roadways leading to more affordable suburbs in the Lower Mainland 

Read Article

Prime Lower Mainland real estate markets still reeling from foreign-buyer tax

One year on, West Van, Richmond prices, sales have yet to recover

Read Article

North Van council approves 23-storey tower plan

1968-era Royal George apartments to be refurbished, new highrise to bring much-needed rentals

Read Article

Subscribe to our mailing lists

You may withdraw your consent at any time.

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
Business in Vancouver Media Group
303 West 5th Avenue, Vancouver, British Columbia
V5Y 1J6 · Canada
604-688-2398
×