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April 2016 Vancouver Housing Starts Trend Higher for all Dwelling Types

VANCOUVER, May 9, 2016 — Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 27,305 units in April compared to 25,960 units in March, 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.

“Housing starts continue to rise, trending above last month’s total as construction of all home types increased,” said Robyn Adamache, Principal Market Analyst. “The actual number of housing starts in the Vancouver CMA was the highest recorded for April since 1972,” added Adamache.

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 32,878 units in April, up from 28,308 units in March as housing construction increased for all dwelling types.

Housing starts in the Abbotsford-Mission CMA were trending at 1,274 units in April, up from 1,249 units in March due to an increase in row home 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:
Lisa Ono
604-737-4022
lono@cmhc.ca

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate
Source: CMHC

Preliminary Housing Start Data
April 2016
Vancouver CMA1 March 2016 April 2016
Trend2 25,960 27,305
SAAR 28,308 32,878
  April 2015 April 2016
Actual    
April — Single-detached 418 458
April — Multiples 1,585 2,293
April — Total 2,003 2,751
January to April — Single-detached 1,372 1,655
January to April — Multiples 4,914 8,177
January to April — Total 6,286 9,832
Preliminary Housing Start Data
April 2016
Abbotsford-Mission CMA1 March 2016 April 2016
Trend2 1,249 1,274
SAAR 1,021 771
  April 2015 April 2016
Actual    
April — Single-detached 39 39
April — Multiples 17 29
April — Total 56 68
January to April — Single-detached 85 170
January to April — Multiples 120 280
January to April — Total 205 450

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
April / 2015 – 2016
  Singles Multiples Total
  2015 2016 2015 2016 2015 2016
Anmore VL 0 1 0 0 0 1
Belcarra VL 0 0 0 0 0 0
Bowen Island IM 3 0 0 0 3 0
Burnaby CY 35 38 199 198 234 236
Coquitlam CY 27 32 32 159 59 191
Delta DM 9 11 7 7 16 18
First Nations / Premières nations 0 0 0 0 0 0
Greater Vancouver A RDA 1 0 0 0 1 0
Langley CY 4 0 0 14 4 14
Langley DM 27 28 171 98 198 126
Lions Bay VL 0 0 0 0 0 0
Maple Ridge CY 54 44 36 7 90 51
New Westminster CY 1 4 0 4 1 8
North Vancouver CY 5 5 0 11 5 16
North Vancouver DM 16 7 0 250 16 257
Pitt Meadows CY 2 1 2 0 4 1
Port Coquitlam CY 0 5 0 24 0 29
Port Moody CY 0 2 0 0 0 2
Richmond CY 34 26 12 219 46 245
Surrey CY 90 111 781 111 871 222
Vancouver CY 100 120 341 1,041 441 1,161
West Vancouver DM 4 15 0 57 4 72
White Rock CY 6 8 4 93 10 101
CMA Total 418 458 1,585 2,293 2,003 2,751

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
April / 2015 – 2016
  Singles Multiples Total
  2015 2016 2015 2016 2015 2016
Abbotsford CY 22 27 17 29 39 56
First Nations / Premières nations 0 0 0 0 0 0
Mission DM 17 12 0 0 17 12
CMA Total 39 39 17 29 56 68

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 5 6 0 0 5 6
Belcarra VL 0 1 0 0 0 1
Bowen Island IM 3 3 0 0 3 3
Burnaby CY 88 124 316 1,264 404 1,388
Coquitlam CY 83 126 139 648 222 774
Delta DM 39 36 55 51 94 87
First Nations / Premières nations 0 22 0 0 0 22
Greater Vancouver A RDA 3 1 246 0 249 1
Langley CY 4 1 0 14 4 15
Langley DM 85 84 378 280 463 364
Lions Bay VL 0 0 0 0 0 0
Maple Ridge CY 147 160 121 143 268 303
New Westminster CY 5 21 0 255 5 276
North Vancouver CY 8 25 306 357 314 382
North Vancouver DM 40 43 131 518 171 561
Pitt Meadows CY 8 7 38 0 46 7
Port Coquitlam CY 5 13 106 40 111 53
Port Moody CY 4 6 0 7 4 13
Richmond CY 126 134 509 759 635 893
Surrey CY 276 340 1,522 601 1,798 941
Vancouver CY 384 429 1,035 3,085 1,419 3,514
West Vancouver DM 43 60 2 57 45 117
White Rock CY 16 13 10 98 26 111
CMA Total 1,372 1,655 4,914 8,177 6,286 9,832

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 41 105 120 259 161 364
First Nations / Premières nations 0 0 0 0 0 0
Mission DM 44 65 0 21 44 86
CMA Total 85 170 120 280 205 450

Source: CMHC

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