VANCOUVER, August 9, 2016 — Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 30,361 units in July compared to 29,933 units in June, 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.

“Strong demand for new homes in July kept the housing starts trend well above its five-year average,” said Robyn Adamache, CMHC Principal Market Analyst for Vancouver. “Nearly six in ten detached homes and almost all apartments were sold on completion, meaning the supply of completed and unsold new homes remains low.”

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 24,737 units in July, down from 35,447 units in June due to a pullback in new apartment starts.

Housing starts in the Abbotsford-Mission CMA were trending at 1,251 units in July, down from 1,399 units in June. Fewer apartment starts accounted for this month’s decline in home building.

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
jpwilkin@cmhc.ca

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate
Source: CMHC

Preliminary Housing Start Data
July 2016
Vancouver CMA1June 2016July 2016
Trend229,93330,361
SAAR35,44724,737
July 2015July 2016
Actual
July — Single-detached431495
July — Multiples1,8861,618
July — Total2,3172,113
January to July — Single-detached2,6853,140
January to July — Multiples9,57013,813
January to July — Total12,25516,953
Preliminary Housing Start Data
July 2016
Abbotsford-Mission CMA1June 2016July 2016
Trend21,3991,251
SAAR1,330974
July 2015July 2016
Actual
July — Single-detached3152
July — Multiples3834
July — Total6986
January to July — Single-detached168313
January to July — Multiples171438
January to July — Total339751

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
July / 2015 – 2016
SinglesMultiplesTotal
201520162015201620152016
Anmore VL010001
Belcarra VL000000
Bowen Island IM340034
Burnaby CY334742966462113
Coquitlam CY243640386474
Delta DM2412332110356122
First Nations / Premières nations01000010
Greater Vancouver A RDA000000
Langley CY100010
Langley DM2350469869148
Lions Bay VL000000
Maple Ridge CY825048873
New Westminster CY2511373142
North Vancouver CY62752814
North Vancouver DM91468915103
Pitt Meadows CY030003
Port Coquitlam CY4234703872
Port Moody CY010102
Richmond CY3849248106286155
Surrey CY11496267304381400
Vancouver CY114117407546521663
West Vancouver DM2416002416
White Rock CY451358
CMA Total4314951,8861,6182,3172,113

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
July / 2015 – 2016
SinglesMultiplesTotal
201520162015201620152016
Abbotsford CY304038336873
First Nations / Premières nations000000
Mission DM11201113
CMA Total315238346986

Source: CMHC

Vancouver CMA Preliminary Actual Housing Starts Data
Year to Date / 2015 – 2016
SinglesMultiplesTotal
201520162015201620152016
Anmore VL81000810
Belcarra VL010001
Bowen Island IM81201813
Burnaby CY1742281,1151,5651,2891,793
Coquitlam CY158220422732580952
Delta DM7876410224488300
First Nations / Premières nations03200032
Greater Vancouver A RDA3124602491
Langley CY52014516
Langley DM143209635617778826
Lions Bay VL000000
Maple Ridge CY229288161235390523
New Westminster CY2435300679324714
North Vancouver CY2641781589807630
North Vancouver DM7881150621228702
Pitt Meadows CY9123804712
Port Coquitlam CY1924172116191140
Port Moody CY10101482418
Richmond CY2462729331,2841,1791,556
Surrey CY6086272,1081,3432,7161,970
Vancouver CY7368252,0285,6222,7646,447
West Vancouver DM871073357120164
White Rock CY36272410660133
CMA Total2,6853,1409,57013,81312,25516,953

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
Year to Date / 2015 – 2016
SinglesMultiplesTotal
201520162015201620152016
Abbotsford CY108214167393275607
First Nations / Premières nations000000
Mission DM609944564144
CMA Total168313171438339751

Source: CMHC

Date Published: August 9, 2016