BRITISH COLUMBIA – Canadian housing starts rose 8 per cent to 262,433 units in November at a seasonally adjusted annual rate (SAAR). Starts were up 25 per cent from the same month last year. Single-detached housing starts were 3 per cent higher from last month at 60,781 units, while multi-family and other starts rose by 10 per cent to 201,661 (SAAR).
In British Columbia, starts rose 18 per cent from last month to 50,447 units SAAR in all areas of the province. In areas of the province with 10,000 or more residents, single-detached starts were mostly unchanged at 4,586 units, while multi-family starts rose by 23 per cent to 44,002 units month-over-month. Starts in the province were 28 per cent above the levels from November 2023. Compared with last year, year-to-date starts are up by 46 per cent in Kelowna, while being down by 14 per cent in Vancouver, 16 per cent in Victoria, 8 per cent in Abbotsford, and 7 per cent in Nanaimo.
Source: bcrea.bc.ca
