Home starts in Vancouver trended higher last month than in October.

Metro Vancouver home building on pace to set record

Urban-area apartments drove surge to 39,000 starts last month: CMHC

2016 is shaping up to be a record year for housing starts in Metro Vancouver, according to Canada Mortgage and Housing Corporation.

In its recent report, urban area housing starts across B.C. reached just more than 39,300 units in November, up from 37,700 in October.

About 27,000 of those units began construction in Metro Vancouver, primarily made up of apartment projects in Vancouver.

In the Abbotsford-Mission area however, housing starts were down in November, at 965 units compared to 1,152 units in October. This downward trend extended across all home types.

“Total housing starts trended higher in November due to a large number of apartment starts in the City of Vancouver,” said Robyn Adamache, CMHC Principal Market Analyst for Vancouver.

Still, other major urban centres like Abbotsford, Mission, Kelowna, and Victoria are seeing about one-third more housing starts this year compared to last.

“2016 is shaping up to be a record year for housing starts as builders add much needed supply in the region.”

Despite the increase, Greater Vancouver Home Builders’ Association CEO Bob de Wit said development is still “generally under-built,” and that more homes are still needed than what’s being built.

Following the implementation of the foreign buyers tax in Metro Vancouver by the provincial government, de Wit said custom-built houses and renovations have slowed down as a result.

Cities also being affected include Kelowna and Victoria, markets where some foreign buyers have looked as an alternative where the new 15 per cent tax doesn’t apply and where buyers are look at the senior-alternative markets.

De Wit said BC Housing’s report on warranty registrations – set to be released Monday – will show a better picture of what the future of housing looks like.


@ashwadhwaniashley.wadhwani@bpdigital.caLike us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Metro Creative Connection Photo.
Mission council decides to revert back to ‘lifetime’ fire-pit permits

District moving towards restriction, rather than prohibition, of backyard burns

The number of new COVID-19 cases in the Fraser South region has doubled in the last two weeks. The number of cases in the Fraser East region has tripled.
Chart: Tyler Olsen
COVID-19 surge in B.C. fuelled by spikes in new cases in Fraser Valley & Surrey area

Number of newly confirmed cases has tripled in Fraser Valley and doubled in the Surrey/Langley area

John Redekop, with wife Doris, was the 2019 recipient of the Betty Urquhart Community Service Award from UFV. (Photo courtesy of UFV)
Nominations open until Oct. 30 for UFV’s Betty Urquhart Awards

Award recognizes ‘significant impact’ of volunteer work by an individual or group

Maple Ridge-Pitt Meadows’ NDP incumbent Lisa Beare, believes Reese Witherspoon – seen here in the series “The Morning Show,” could best play her on the big screen. (Special to The News Apple TV+/TNS)
Maple Ridge candidates cast themselves in dramatic comedies

ELECTION LEVITY: MLA hopefuls reveal who should play them on the silver screen

Two recent flights into Abbotsford International Airport have had recent COVID-19 exposures, according to the B.C. Centre for Disease Control.
Two flights into Abbotsford have had recent COVID-19 exposures

Centre for Disease Control asks passengers to monitor for symptoms for 14 days

B.C. Liberal leader Andrew Wilkinson, B.C. NDP leader John Horgan and B.C. Greens leader Sonia Furstenau. (Black Press Media)
VIDEO: One day until B.C. voters go to the polls in snap election defined by pandemic

NDP Leader John Horgan’s decision to call an election comes more than a year ahead of schedule and during a pandemic

Chastity Davis-Alphonse took the time to vote on Oct. 21. B.C’s general Election Day is Saturday, Oct. 24. (Chastity Davis-Alphonse Facebook photo)
B.C. reconciliation advocate encourages Indigenous women to vote in provincial election

Through the power of voice and education Chastity Davis-Alphonse is hopeful for change

White Rock RCMP Staff Sgt. Kale Pauls has released a report on mental health and policing in the city. (File photos)
White Rock’s top cop wants to bill local health authority for lengthy mental-health calls

‘Suggestion’ included in nine-page review calling for ‘robust’ support for healthcare-led response

A Le Chateau retail store is shown in Montreal on Wednesday July 13, 2016. Le Chateau Inc. says it is seeking court protection from creditors under the Companies’ Creditors Arrangement Act to allow it to liquidate its assets and wind down its operations.THE CANADIAN PRESS/Ryan Remiorz
Clothing retailer Le Chateau plans to close its doors, files for CCAA protection

Le Chateau said it intends to remain fully operational as it liquidates its 123 stores

The family of Anika Janz, who died after collapsing at school, has launched a GoFundMe to assist with funeral proceedings. (GoFundMe photo)
Family of student who died launches GoFundMe

Rick Hansen Secondary School student Anika Janz, 14, died after collapsing in PE class

Green party Leader Sonia Furstenau arrives to announce her party’s election platform in New Westminster, B.C., on October 14, 2020. THE CANADIAN PRESS/Jonathan Hayward
B.C. Green party says it’s raised nearly $835,000 in 38 days

NDP Leader John Horgan is holding his final virtual campaign event

U.S. border officers at the Peace Arch crossing arrested two men on California warrants this week. (File photo)
Ottawa predicts system delays, backlogs unless court extends life of refugee pact

Canada and the United States recognize each other as safe places to seek protection

BC Liberal leader Andrew Wilkinson,  BC NDP leader John Horgan and BC Green leader Sonia Furstenau. (File)
B.C. VOTES 2020: Climate change and sustainability promises from the parties

Snap election has led to a short campaign; here’s the lowdown on the platforms

Conservative member of Parliament Michelle Rempel Garner, left to right, Conservative Leader Erin O’Toole and Conservative Deputy Leader Candice Bergen arrive to hold a press conference in Ottawa on Thursday, Oct. 22, 2020. THE CANADIAN PRESS/Sean Kilpatrick
No-confidence showdown over sweeping Tory motion on government handling of pandemic

The Conservative motion is to be put to a vote Monday and has the support of both the Bloc Québécois and NDP

Most Read