VANCOUVER, September 8, 2016 — Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 28,108 units in August compared to 30,333 units in July, 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.

“While actual housing starts remain well above levels recorded in 2015, August did see a dip in the trend for the first time this year,” said Robyn Adamache, CMHC Principal Market Analyst for Vancouver. “Large multi-unit condo projects in Burnaby, Coquitlam and Vancouver account for just over half of all new residential starts in August.”

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 24,013 units in August, down from 24,682 units in July due to aslowdown in new detached and row home starts.

Housing starts in the Abbotsford-Mission CMA were trending at 1,005 units in August, down from 1,241 units in July. Fewer starts of single detached homes, row units and apartments contributed to the decline in home building this month.

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

Courtney Gillis
403-515-3012
cgillis@cmhc.ca

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate

Preliminary Housing Start Data
August 2016
Vancouver CMA1July 2016August 2016
Trend230,33328,108
SAAR24,68224,013
August 2015August 2016
Actual
August — Single-detached441439
August — Multiples1,0211,614
August — Total1,4622,053
January to August — Single-detached3,1263,579
January to August — Multiples10,59115,427
January to August — Total13,71719,006
Preliminary Housing Start Data
August 2016
Abbotsford-Mission CMA1July 2016August 2016
Trend21,2411,005
SAAR945601
August 2015August 2016
Actual
August — Single-detached4734
August — Multiples3823
August — Total8557
January to August — Single-detached215347
January to August — Multiples209461
January to August — Total424808

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
August / 2015 – 2016
SinglesMultiplesTotal
201520162015201620152016
Anmore VL000000
Belcarra VL000000
Bowen Island IM220022
Burnaby CY352777455112482
Coquitlam CY17191829735316
Delta DM137842111
First Nations / Premières nations000000
Greater Vancouver A RDA0016101610
Langley CY100010
Langley DM213665548690
Lions Bay VL000000
Maple Ridge CY284020544894
New Westminster CY81266217433
North Vancouver CY101020
North Vancouver DM14131072420
Pitt Meadows CY200020
Port Coquitlam CY10350360
Port Moody CY130013
Richmond CY424423779279123
Surrey CY113102193179306281
Vancouver CY130108121461251569
West Vancouver DM72100721
White Rock CY5593148
CMA Total4414391,0211,6141,4622,053

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
August / 2015 – 2016
SinglesMultiplesTotal
201520162015201620152016
Abbotsford CY452538238348
First Nations / Premières nations000000
Mission DM290029
CMA Total473438238557

Source: CMHC

Vancouver CMA Preliminary Actual Housing Starts Data
Year to Date / 2015 – 2016
SinglesMultiplesTotal
201520162015201620152016
Anmore VL81000810
Belcarra VL010001
Bowen Island IM1014011015
Burnaby CY2092551,1922,0201,4012,275
Coquitlam CY1752394401,0296151,268
Delta DM9183418228509311
First Nations / Premières nations03200032
Greater Vancouver A RDA3140704101
Langley CY62014616
Langley DM164245700671864916
Lions Bay VL000000
Maple Ridge CY257328181289438617
New Westminster CY3247366700398747
North Vancouver CY2741782589809630
North Vancouver DM9294160628252722
Pitt Meadows CY11123804912
Port Coquitlam CY2024207116227140
Port Moody CY11131482521
Richmond CY2883161,1701,3631,4581,679
Surrey CY7217292,3011,5223,0222,251
Vancouver CY8669332,1496,0833,0157,016
West Vancouver DM941283357127185
White Rock CY41323310974141
CMA Total3,1263,57910,59115,42713,71719,006

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
Year to Date / 2015 – 2016
SinglesMultiplesTotal
201520162015201620152016
Abbotsford CY153239205416358655
First Nations / Premières nations000000
Mission DM6210844566153
CMA Total215347209461424808

Source: CMHC

Date Published: September 8, 2016