VANCOUVER, April 8, 2016 — Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 25,969 units in March compared to 24,248 units in February, 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.

“An increase in single-detached, townhome and apartment starts saw the pace of new home construction surpass last month’s trend,” said Richard Sam, Market Analyst. “Record monthly resales and low inventories of new move-in ready homes have motivated builders to bring on more supply to the marketplace,” added Sam.

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 28,412 units in March, down from 37,315 units in February due to the record level of housing starts recorded last month. Housing starts in February were the highest monthly total in the past 25 years in the Vancouver CMA.

Housing starts in the Abbotsford-Mission CMA were trending at 1,265 units in March, down from 1,408 units in February due to a decrease in apartment 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:

Elisabeth Lefrancois
604-737-4072
elefranc@cmhc.ca

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate
Source: CMHC

Preliminary Housing Start Data
March 2016
Vancouver CMA1February 2016March 2016
Trend224,24825,969
SAAR37,31528,412
March 2015March 2016
Actual
March — Single-detached324401
March — Multiples1,6051,895
March — Total1,9292,296
January to March — Single-detached9541,197
January to March — Multiples3,3295,884
January to March— Total4,2837,081

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
March / 2015 – 2016
SinglesMultiplesTotal
201520162015201620152016
Anmore VL51----51
Belcarra VL------------
Bowen Island IM--2------2
Burnaby CY14234515059173
Coquitlam CY22252915451179
Delta DM81113--2111
First Nations--8------8
Greater Vancouver A RDA11169--1701
Langley CY--1------1
Langley DM151975619080
Lions Bay VL------------
Maple Ridge CY303359448977
New Westminster CY--3--53--56
North Vancouver CY--5127109127114
North Vancouver DM61998180104199
Pitt Meadows CY2316--183
Port Coquitlam CY2164--661
Port Moody CY22----22
Richmond CY3955111239150294
Surrey CY6369555227618296
Vancouver CY93107237676330783
West Vancouver DM15112--1711
White Rock CY7252124
Vancouver CMA Total3244011,6051,8951,9292,296

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
March / 2015 – 2016
SinglesMultiplesTotal
2015201620152016201201
Abbotsford CY6298371466
First Nations------------
Mission DM146--3149
CMA Total20358402875

Source: CMHC

Vancouver CMA Preliminary Actual Housing Starts Data
Year to Date / 2015 – 2016
SinglesMultiplesTotal
201520162015201620152016
Anmore VL55----55
Belcarra VL--1------1
Bowen Island IM--3------3
Burnaby CY53861171,0661701,152
Coquitlam CY5694107489163583
Delta DM302548447869
First Nations--22------22
Greater Vancouver A RDA21246--2481
Langley CY--1------1
Langley DM5856207182265238
Lions Bay VL------------
Maple Ridge CY9311685136178252
New Westminster CY417--2514268
North Vancouver CY320306346309366
North Vancouver DM2436131268155304
Pitt Meadows CY6636--426
Port Coquitlam CY581061611124
Port Moody CY44--7411
Richmond CY92108497540589648
Surrey CY186229741490927719
Vancouver CY2843096942,0449782,353
West Vancouver DM39452--4145
White Rock CY105651610
CMA Total9541,1973,3295,8844,2837,081

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
Year to Date / 2015 – 2016
SinglesMultiplesTotal
201520162015201620152016
Abbotsford CY1978103230122308
First Nations------------
Mission DM2753--212774
CMA Total46131103251149382

Source: CMHC

Date Published: April 8, 2016