Issue 18-155 Housing Starts

September 5, 2018

Housing starts in urban areas (areas with population of at least 10,000) in British Columbia continued to see-saw in July, jumping 24.0% (seasonally adjusted at annual rates) following a 15.5% dip in June. July’s boost was due entirely to increased activity among apartment and other unit types (+45.5%), as row units, semi-detached and single-detached units all slowed.

Among British Columbia’s census metropolitan areas, Abbotsford-Mission (+219.9%) and Vancouver (+48.4%) saw housing starts advance in July, while activity eased in Victoria (-18.3%) and Kelowna (-46.8%).

Despite strength in B.C. and some other provinces, urban housing starts across Canada were down (-16.2%) in July, with slowed activity in six provinces. The national decline was widespread, with all housing types registering monthly decreases.

Data Source: Canada Mortgage and Housing Corporation