Brand new website coming soon. Learn MoreClose

June Saw Vancouver Housing Starts Trend at Highest Level Since 1990

VANCOUVER, July 11, 2016 — Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 29,932 units in June compared to 28,234 units in May, 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.

“Vancouver housing starts continue to pick up pace for all home types, pushing the trend measure to its highest level since 1990,” said Robyn Adamache, CMHC Principal Market Analyst for Vancouver. “With low inventories of new and unsold homes and a limited number of existing homes for sale, developers have increased the number of housing starts to meet demand.”

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 35,445 units in June, up from 23,513 units in May due to alarge increase in multiple-family home starts.

Housing starts in the Abbotsford-Mission CMA were trending at 1,403 units in June, up from 1,284 units in May as construction increased for all home types.

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.

Follow us on Twitter, YouTube, LinkedIn and Facebook.

Media Contact:

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

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate
Source: CMHC

Preliminary Housing Start Data
June 2016
Vancouver CMA1 May 2016 June 2016
Trend2 28,234 29,932
SAAR 23,513 35,445
  June 2015 June 2016
Actual    
June — Single-detached 482 462
June — Multiples 1,689 2,535
June — Total 2,171 2,997
January to June — Single-detached 2,254 2,645
January to June — Multiples 7,684 12,195
January to June — Total 9,938 14,840
Preliminary Housing Start Data
June 2016
Abbotsford-Mission CMA1 May 2016 June 2016
Trend2 1,284 1,403
SAAR 1,387 1,342
  June 2015 June 2016
Actual    
June — Single-detached 24 42
June — Multiples 2 64
June — Total 26 106
January to June — Single-detached 137 261
January to June — Multiples 133 404
January to June — Total 270 665

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
June / 2015 – 2016
  Singles Multiples Total
  2015 2016 2015 2016 2015 2016
Anmore VL 0 0 0 0 0 0
Belcarra VL 0 0 0 0 0 0
Bowen Island IM 2 3 0 0 2 3
Burnaby CY 32 37 343 200 375 237
Coquitlam CY 38 26 232 27 270 53
Delta DM 10 17 19 48 29 65
First Nations / Premières nations 0 0 0 0 0 0
Greater Vancouver A RDA 0 0 0 0 0 0
Langley CY 0 0 0 0 0 0
Langley DM 17 43 168 71 185 114
Lions Bay VL 0 0 0 0 0 0
Maple Ridge CY 45 38 40 17 85 55
New Westminster CY 11 6 299 191 310 197
North Vancouver CY 6 8 210 8 216 16
North Vancouver DM 16 7 13 4 29 11
Pitt Meadows CY 0 1 0 0 0 1
Port Coquitlam CY 3 5 1 4 4 9
Port Moody CY 5 2 0 0 5 2
Richmond CY 43 49 18 412 61 461
Surrey CY 103 91 217 221 320 312
Vancouver CY 130 116 99 1,330 229 1,446
West Vancouver DM 11 9 23 0 34 9
White Rock CY 10 4 7 2 17 6
CMA Total 482 462 1,689 2,535 2,171 2,997

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
June / 2015 – 2016
  Singles Multiples Total
  2015 2016 2015 2016 2015 2016
Abbotsford CY 21 35 2 41 23 76
First Nations / Premières nations 0 0 0 0 0 0
Mission DM 3 7 0 23 3 30
CMA Total 24 42 2 64 26 106

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 5 8 0 1 5 9
Burnaby CY 141 181 686 1,499 827 1,680
Coquitlam CY 134 184 382 694 516 878
Delta DM 54 64 78 114 132 178
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 120 159 589 519 709 678
Lions Bay VL 0 0 0 0 0 0
Maple Ridge CY 221 263 161 187 382 450
New Westminster CY 22 30 299 542 321 572
North Vancouver CY 20 39 706 587 726 626
North Vancouver DM 69 67 144 532 213 599
Pitt Meadows CY 9 9 38 0 47 9
Port Coquitlam CY 15 22 138 46 153 68
Port Moody CY 10 9 14 7 24 16
Richmond CY 208 223 685 1,178 893 1,401
Surrey CY 494 531 1,841 1,039 2,335 1,570
Vancouver CY 622 708 1,621 5,076 2,243 5,784
West Vancouver DM 63 91 33 57 96 148
White Rock CY 32 22 23 103 55 125
CMA Total 2,254 2,645 7,684 12,195 9,938 14,840

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 78 174 129 360 207 534
First Nations / Premières nations 0 0 0 0 0 0
Mission DM 59 87 4 44 63 131
CMA Total 137 261 133 404 270 665

Source: CMHC

Canada

Share...


Print(opens in a new window)