Metro Vancouver housing starts rose 25% in the first seven months of 2011 compared with the same period in 2010, according to Canada Mortgage and Housing Corp. (CMHC).
New starts across Metro Vancouver totalled 10,010, up from 8,005 in the same seven months last year.
Surrey topped all Metro Vancouver municipalities with 2,059 starts, although that is down 8% from the 2,244 starts that it recorded in the first seven months of 2010.
Vancouver (2,011), Richmond (1,618) and Coquitlam (983) had the next most starts among local municipalities.
Housing start growth was particularly acute in Richmond (131%) and Coquitlam (74%) among the larger municipalities.
Apartment buildings and other multi-family construction particularly drove the number of starts, according to CMHC senior market analyst Robyn Adamache.
“In the first seven months of this year, 5,903 apartment starts were recorded compared to 3,882 during the same period last year,” she said in a release.
“A pick-up in condominium sales as well, as stable economic conditions, gave developers the impetus to undertake such projects.”
Glen Korstrom
Twitter: GlenKorstrom