VANCOUVER, February 8, 2016 — Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 20,790 units in January 2016 compared to 21,659 units in December 2015, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“Despite an increase in single-detached starts, Vancouver saw a decrease in multi-unit construction, prompting housing starts to trend lower in the region compared to last month,” said Richard Sam, CMHC Principal Market Analyst for Vancouver. “Despite the downward trend, actual housing starts in the CMA surpassed what is usually expected for January, figuring above the 10-year historical average for actual starts during the month,” he added.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets as they are largely driven by the multiple-unit segment of the markets which can be quite variable from one month to the next.

The standalone monthly SAAR was 22,102 units in January 2016, down from 25,199 units in December 2015, mainly due to a decrease in multiple starts.

Housing starts in the Abbotsford-Mission CMA were trending at 1,204 units in January 2016, up from 1,024 units in December 2015. Actual starts were 143 units, higher than the 11 units in January 2015 based on new apartment condominium starts.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables.

As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

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Media Contact:

Lisa Ono

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate
Source: CMHC

Preliminary Housing Start Data
January 2016
Vancouver CMA1December 2015January 2016
January 2015January 2016
January — Single-detached303367
January — Multiples1,0091,394
January — Total1,3121,761
Preliminary Housing Start Data
January 2016
Abbotsford-Mission CMA1December 2015January 2016
January 2015January 2016
January — Single-detached1022
January — Multiples1121
January — Total11143

Source: CMHC
1 Census Metropolitan Area
2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR).
Detailed data available upon request

Vancouver CMA Preliminary Actual Housing Starts Data
January / 2015 - 2016
Anmore VL010001
Belcarra VL000000
Bowen Island IM010001
Burnaby CY154210412583
Coquitlam CY1723179334116
Delta DM12543168
First Nations / Premières nations000000
Greater Vancouver A RDA10770780
Langley CY000000
Langley DM21241076912893
Lions Bay VL000000
Maple Ridge CY293714584395
New Westminster CY2401892193
North Vancouver CY110115233116243
North Vancouver DM8732804087
Pitt Meadows CY2180101
Port Coquitlam CY0038103810
Port Moody CY100010
Richmond CY1730366738337
Surrey CY637583133146208
Vancouver CY9692138478234570
West Vancouver DM1615001615
White Rock CY200020
CMA Total3033671,0091,3941,3121,761

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
January / 2015 - 2016
Abbotsford CY71611208136
First Nations / Premières nations000000
Mission DM360137
CMA Total1022112111143

Source: CMHC

Date Published: February 8, 2016