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May 2016 Housing Starts up in Vancouver

VANCOUVER, June 8, 2016 — Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 28,267 units in May compared to 27,304 units in April, 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 are trending higher than last month in all home types,” said Robyn Adamache, CMHC Principal Market Analyst for Vancouver. “So far this year, actual single-detached and multiple starts have outpaced last year’s totals for the period in response to low inventories of unsold new homes and high demand for ownership and rental housing.”

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 23,611 units in May, down from 32,876 units in April due to a decrease in multiple-family home starts.

Housing starts in the Abbotsford-Mission CMA were trending at 1,291 units in May, up from 1,278 units in April as construction increased for single and semi-detached homes.

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
jpwilkins@cmhc.ca

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate
Source: CMHC

Preliminary Housing Start Data
May 2016
Vancouver CMA1 April 2016 May 2016
Trend2 27,304 28,267
SAAR 32,876 23,611
  May 2015 May 2016
Actual    
May — Single-detached 400 528
May — Multiples 1,081 1,483
May — Total 1,481 2,011
January to May — Single-detached 1,772 2,183
January to May — Multiples 5,995 9,660
January to May — Total 7,767 11,843
Preliminary Housing Start Data
May 2016
Abbotsford-Mission CMA1 April 2016 May 2016
Trend2 1,278 1,291
SAAR 780 1,391
  May 2015 May 2016
Actual    
May — Single-detached 28 49
May — Multiples 11 60
May — Total 39 109
January to May — Single-detached 113 219
January to May — Multiples 131 340
January to May — Total 244 559

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
May / 2015 – 2016
  Singles Multiples Total
  2015 2016 2015 2016 2015 2016
Anmore VL 3 3 0 0 3 3
Belcarra VL 0 0 0 0 0 0
Bowen Island IM 0 2 0 1 0 3
Burnaby CY 21 20 27 35 48 55
Coquitlam CY 13 32 11 19 24 51
Delta DM 5 11 4 15 9 26
First Nations / Premières nations 0 0 0 0 0 0
Greater Vancouver A RDA 0 0 0 0 0 0
Langley CY 0 1 0 0 0 1
Langley DM 18 32 43 168 61 200
Lions Bay VL 0 0 0 0 0 0
Maple Ridge CY 29 65 0 27 29 92
New Westminster CY 6 3 0 96 6 99
North Vancouver CY 6 6 190 222 196 228
North Vancouver DM 13 17 0 10 13 27
Pitt Meadows CY 1 1 0 0 1 1
Port Coquitlam CY 7 4 31 2 38 6
Port Moody CY 1 1 14 0 15 1
Richmond CY 39 40 158 7 197 47
Surrey CY 115 100 102 217 217 317
Vancouver CY 108 163 487 661 595 824
West Vancouver DM 9 22 8 0 17 22
White Rock CY 6 5 6 3 12 8
CMA Total 400 528 1,081 1,483 1,481 2,011

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
May / 2015 – 2016
  Singles Multiples Total
  2015 2016 2015 2016 2015 2016
Abbotsford CY 16 34 7 60 23 94
First Nations / Premières nations 0 0 0 0 0 0
Mission DM 12 15 4 0 16 15
CMA Total 28 49 11 60 39 109

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 8 9 0 0 8 9
Belcarra VL 0 1 0 0 0 1
Bowen Island IM 3 5 0 1 3 6
Burnaby CY 109 144 343 1,299 452 1,443
Coquitlam CY 96 158 150 667 246 825
Delta DM 44 47 59 66 103 113
First Nations / Premières nations 0 22 0 0 0 22
Greater Vancouver A RDA 3 1 246 0 249 1
Langley CY 4 2 0 14 4 16
Langley DM 103 116 421 448 524 564
Lions Bay VL 0 0 0 0 0 0
Maple Ridge CY 176 225 121 170 297 395
New Westminster CY 11 24 0 351 11 375
North Vancouver CY 14 31 496 579 510 610
North Vancouver DM 53 60 131 528 184 588
Pitt Meadows CY 9 8 38 0 47 8
Port Coquitlam CY 12 17 137 42 149 59
Port Moody CY 5 7 14 7 19 14
Richmond CY 165 174 667 766 832 940
Surrey CY 391 440 1,624 818 2,015 1,258
Vancouver CY 492 592 1,522 3,746 2,014 4,338
West Vancouver DM 52 82 10 57 62 139
White Rock CY 22 18 16 101 38 119
CMA Total 1,772 2,183 5,995 9,660 7,767 11,843

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 57 139 127 319 184 458
First Nations / Premières nations 0 0 0 0 0 0
Mission DM 56 80 4 21 60 101
CMA Total 113 219 131 340 244 559

Source: CMHC

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