In spite of a slow August, condominium development has increased the number of home starts in Metro Vancouver during the first eight months of the year, according to the Canada Mortgage and Housing Corp.
Multiple unit starts, which include semi-detached, townhouse and apartment starts, accounted for a 7% increase in the number of foundations poured so far this year in Metro Vancouver.
Demand for new homes remains healthy in the region, according to the CMHC, although the inventory of unsold new homes is rising.
According to CMHC analyst Robyn Adamache, housing starts in Metro Vancouver will exceed 18,000 units for the fifth consecutive year.
With a 26% rise, Abbotsford recorded the largest year-over-year growth in housing starts in B.C. thus far this year.
A growth in multiple units has made up for a slowdown in single detached construction in that city.
Housing starts in Victoria have remained similar to last year's numbers. Chilliwack experienced the biggest decrease in housing starts so far this year compared with 2007: a 41% drop.