The Canada Mortgage and Housing Corporation (CMHC) released the July 2018 housing starts data last week. Some of the Vancouver Island highlights include:
Comox Valley and Campbell River: Elevated housing construction has the Comox Valley pacing well ahead of 2017 for overall housing starts. The CMHC reported that the Comox Valley has a total of 331 housing units under construction at the end of July 2018, which includes single family homes, semi-detached homes, row housing and apartments. Year-to-date new housing starts total 250 until July 31, compared to 177 for 2017.
Construction activity is also on the rise in Campbell River, according to CHMC’s statistics. As of June 30, 2018, the number of single family homes, semi-detached homes, row housing and apartments under construction is 254 compared to 178 in 2017.
Victoria Highlights: “The trend for housing starts moved higher in July 2018, continuing strong construction activity in the first half of the year for the Victoria CMA,” said Eric Bond, CMHC’s principal analyst. “The number of single-detached starts expanded, particularly in the West Shore municipalities of Langford and Colwood. With strong demand for all types of housing in the region, builders have responded by starting 14% more units in 2018 compared with the same period last year.”
For more information, contact: Len Catling, CMHC Media Relations, email@example.com