Friday, November 5, 2010
Vancouver Housing Starts up 92% Year on Year for September
According to CMHC (Canada Mortgage and Housing Corporation) new housing starts rose 92% year on year in the Vancouver Metro area in September 2010, totaling 1644 starts. The growth in single detached was only 7% while the growth in "others" was 156%. This compares to a 12% decline for single detached and a 36% increase in "others" for Canada overall. The seasonally adjusted annual rate for dwelling starts in September was 19,100 for Vancouver. This is an increase of 2000 units over last month. Comparatively, Montreal and Toronto decline around 2000 month to month on the annual rate.