VANCOUVER, December 8, 2016 — Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 27,495 units in November compared to 26,082 units in October, 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.

“Total housing starts trended higher in November due to a large number of apartment starts in the City of Vancouver,” said Robyn Adamache, CMHC Principal Market Analyst for Vancouver, “2016 is shaping up to be a record year for housing starts as builders add much needed supply in the region.”

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 multiples segment of the markets which can be quite variable from one month to the next.

The standalone monthly SAAR was 31,980 units in November, up from 11,993 units in October. The increase in the SAAR for Vancouver was concentrated in apartment starts, which rebounded following an unusually slow October.

Housing starts in the Abbotsford-Mission CMA were trending at 965 units in November, down from 1,152 units in October. This downward trend extended across all home types.

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

Jeanette Wilkinson
604-737-4007
jpwilkins@cmhc-schl.gc.ca

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate

Preliminary Housing Start Data
November 2016
Vancouver CMA1 October 2016 November 2016
Trend2 26,082 27,495
SAAR 11,993 31,980
  November 2015 November 2016
Actual    
Novemberr — Single-detached 363 379
November — Multiples 1,118 2,272
November — Total 1,481 2,651
January to November — Single-detached 4,272 4,885
January to November — Multiples 14,534 20,875
January to November — Total 18,806 25,760
Preliminary Housing Start Data
November 2016
Abbotsford-Mission CMA1 October 2016 November 2016
Trend2 1,152 965
SAAR 2,050 245
  November 2015 November 2016
Actual    
November — Single-detached 47 15
November — Multiples 64 5
November — Total 111 20
January to November — Single-detached 366 430
January to November — Multiples 400 640
January to November — Total 766 1,070

Source: CMHC
1 Census Metropolitan Area
2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR). By removing seasonal ups and downs, seasonal adjustment allows for comparison of adjacent months and quarters. The monthly and quarterly SAAR and trend figures indicate the annual level of starts that would be obtained if the same pace of monthly or quarterly construction activity was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.
Detailed data available upon request

Vancouver CMA Preliminary Actual Housing Starts Data
November / 2015 - 2016
  Singles Multiples Total
  2015 2016 2015 2016 2015 2016
Anmore VL 0 5 0 0 0 5
Belcarra VL 0 0 0 0 0 0
Bowen Island IM 0 0 0 0 0 0
Burnaby CY 22 17 28 25 50 42
Coquitlam CY 17 22 28 17 45 39
Delta DM 12 7 5 9 17 16
First Nations / Premières nations 0 0 0 3 0 3
Greater Vancouver A RDA 1 1 0 36 1 37
Langley CY 0 2 127 0 127 2
Langley DM 32 25 125 56 157 81
Lions Bay VL 0 0 0 0 0 0
Maple Ridge CY 10 11 0 7 10 18
New Westminster CY 2 7 2 7 4 14
North Vancouver CY 1 5 1 100 2 105
North Vancouver DM 10 10 2 6 12 16
Pitt Meadows CY 0 0 0 0 0 0
Port Coquitlam CY 0 1 0 64 0 65
Port Moody CY 0 5 0 1 0 6
Richmond CY 56 58 155 157 211 215
Surrey CY 60 81 256 183 316 264
Vancouver CY 122 93 384 1,588 506 1,681
West Vancouver DM 10 19 0 4 10 23
White Rock CY 8 10 5 9 13 19
CMA Total 363 379 1,118 2,272 1,481 2,651

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
November / 2015 - 2016
  Singles Multiples Total
  2015 2016 2015 2016 2015 2016
Abbotsford CY 43 13 64 5 107 18
First Nations / Premières nations 0 0 0 0 0 0
Mission DM 4 2 0 0 4 2
CMA Total 47 15 64 5 111 20

Source: CMHC

Vancouver CMA Preliminary Actual Housing Starts Data
Year to Date / 2015 - 2016
  Singles Multiples Total
  2015 2016 2015 2016 2015 2016
Anmore VL 8 24 0 0 8 24
Belcarra VL 0 1 0 0 0 1
Bowen Island IM 17 21 0 1 17 22
Burnaby CY 298 323 1,566 3,067 1,864 3,390
Coquitlam CY 229 327 486 1,268 715 1,595
Delta DM 128 131 478 311 606 442
First Nations / Premières nations 0 33 0 3 0 36
Greater Vancouver A RDA 5 2 460 36 465 38
Langley CY 8 6 127 22 135 28
Langley DM 239 371 879 871 1,118 1,242
Lions Bay VL 0 0 0 0 0 0
Maple Ridge CY 310 387 205 346 515 733
New Westminster CY 50 68 457 1,159 507 1,227
North Vancouver CY 34 63 788 804 822 867
North Vancouver DM 136 135 178 681 314 816
Pitt Meadows CY 11 16 38 2 49 18
Port Coquitlam CY 24 32 433 182 457 214
Port Moody CY 12 29 14 11 26 40
Richmond CY 441 444 1,811 1,597 2,252 2,041
Surrey CY 950 1,000 3,401 2,057 4,351 3,057
Vancouver CY 1,176 1,236 3,137 8,267 4,313 9,503
West Vancouver DM 139 185 33 65 172 250
White Rock CY 57 51 43 125 100 176
CMA Total 4,272 4,885 14,534 20,875 18,806 25,760

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
Year to Date / 2015 – 2016
  Singles Multiples Total
  2015 2016 2015 2016 2015 2016
Abbotsford CY 276 293 395 585 671 878
First Nations / Premières nations 0 0 0 0 0 0
Mission DM 90 137 5 55 95 192
CMA Total 366 430 400 640 766 1,070

Source: CMHC

Date Published: December 8, 2016