December 2015 Housing Starts Hold Steady In Vancouver

VANCOUVER, January 11, 2016 — Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 21,633 units in December compared to 21,672 units in November, 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.

“The trend measure of housing starts remained steady in December,” said Richard Sam, CMHC Principal Market Analyst for Vancouver. “Overall, the actual number of housing starts in 2015 in the CMA reached 20,863, that is 1,651 units more than the previous year and the highest level since 1993. The increase can be attributed to strong demand for both rental housing and homeownership,” 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 25,101 units in December, up from 17,777 units in November as housing construction increased for all dwelling types.

Housing starts in the Abbotsford-Mission CMA were trending at 1,031 units in December, up from 977 units in November. Actual year-to-date starts were 806 units compared to 499 units in 2014.

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
604-219-7763
lono@cmhc.ca

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate
Source: CMHC

Preliminary Housing Start Data
December 2015
Vancouver CMA1 November 2015 December 2015
Trend2 21,672 21,633
SAAR 17,777 25,101
  December 2014 December 2015
Actual    
December — Single-detached 372 350
December — Multiples 1,346 1,707
December — Total 1,718 2,057
January to December — Single-detached 4,374 4,622
January to December — Multiples 14,838 16,241
January to December — Total 19,212 20,863

Preliminary Housing Start Data
December 2015
Abbotsford-Mission CMA1 November 2015 December 2015
Trend2 977 1,031
SAAR 1,331 645
  December 2014 December 2015
Actual    
December — Single-detached 22 27
December — Multiples 11 13
December — Total 33 40
January to December — Single-detached 251 393
January to December — Multiples 248 413
January to December — Total 499 806

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
December / 2014 – 2015
  Singles Multiples Total
  2014 2015 2014 2015 2014 2015
Anmore VL 0 2 0 0 0 2
Belcarra VL 0 0 0 0 0 0
Bowen Island IM 4 1 1 0 5 1
Burnaby CY 27 10 87 44 114 54
Coquitlam CY 22 13 31 243 53 256
Delta DM 24 14 85 15 109 29
First Nations
5 0 0 0 5 0
Greater Vancouver A RDA 2 1 0 0 2 1
Langley CY 0 1 0 57 0 58
Langley DM 25 22 26 164 51 186
Lions Bay VL 1 0 0 0 1 0
Maple Ridge DM 17 24 0 9 17 33
New Westminster CY 2 8 -- 405 2 413
North Vancouver CY 3 7 4 4 7 11
North Vancouver DM 16 9 6 7 22 16
Pitt Meadows CY 1 2 0 3 1 5
Port Coquitlam CY 3 2 0 1 3 3
Port Moody CY 0 0 0 0 0 0
Richmond CY 34 31 544 374 578 405
Surrey CY 52 59 68 151 120 210
Vancouver CY 120 133 491 170 611 303
West Vancouver DM 10 11 0 0 10 11
White Rock CY 4 0 3 60 7 60
CMA Total 372 350 1,346 1,707 1,718 2,057

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
December / 2014 – 2015
  Singles Multiples Total
  2014 2015 2014 2015 2014 2015
Abbotsford CY 11 21 11 13 22 34
First Nations 0 0 0 0 0 0
Mission DM 11 6 0 0 11 6
CMA Total 22 27 11 13 33 40

Source: CMHC

Vancouver CMA Preliminary Actual Housing Starts Data
Year to Date / 2014 – 2015
  Singles Multiples Total
  2014 2015 2014 2015 2014 2015
Anmore VL 21 10 0 0 21 10
Belcarra VL 5 0 0 0 5 0
Bowen Island IM 17 18 31 0 48 18
Burnaby CY 364 308 1,310 1,610 1,674 1,918
Coquitlam CY 329 242 1,269 729 1,598 971
Delta DM 162 142 375 493 537 635
First Nations 42 0 0 0 42 0
Greater Vancouver A RDA 12 6 199 460 211 466
Langley CY 14 9 100 184 114 193
Langley DM 240 261 947 1,043 1,187 1,304
Lions Bay VL 3 0 0 0 3 0
Maple Ridge DM 213 334 334 214 547 548
New Westminster CY 63 58 488 862 551 920
North Vancouver CY 48 41 487 792 535 833
North Vancouver DM 113 145 379 185 492 330
Pitt Meadows CY 14 13 74 41 88 54
Port Coquitlam CY 26 26 349 434 375 460
Port Moody CY 7 12 2 14 9 26
Richmond CY 399 472 2,637 2,185 3,036 2,657
Surrey CY 965 1,009 2,229 3,552 3,194 4,561
Vancouver CY 1,106 1,309 3,542 3,307 4,648 4,616
West Vancouver DM 124 150 12 33 136 183
White Rock CY 87 57 74 103 161 160
CMA Total 4,374 4,622 14,838 16,241 19,212 20,863

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
Year to Date / 2014 – 2015
  Singles Multiples Total
  2014 2015 2014 2015 2014 2015
Abbotsford CY 126 297 248 408 374 705
First Nations 0 0 0 0 0 0
Mission DM 125 96 0 5 125 101
CMA Total 251 393 248 413 499 806

Source: CMHC

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