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Vancouver Housing Starts on the Rise in September

VANCOUVER, October 11, 2016 — Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 29,741 units in September compared to 28,123 units in August, 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.

“After a dip in August, Vancouver housing starts reset on an upward trend in September given a recent surge in multiple-family residential construction,” said Robyn Adamache, CMHC Principal Market Analyst for Vancouver. “A number of large multiple-family projects, including rental, were started in Burnaby, New Westminster and Vancouver City in response to strong housing 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 37,993 units in September, up from 24,000 units in August as all dwelling types recorded an increase in starts levels this month.

Housing starts in the Abbotsford-Mission CMA were trending at 937 units in September, down from 1,003 in August. This is the second consecutive month that housing starts have trended down, mainly due to a decline in single-detached 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

Jeanette Wilkinson
604-737-4007
jpwilkins@cmhc-schl.gc.ca

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate

Preliminary Housing Start Data
September 2016
Vancouver CMA1 August 2016 September 2016
Trend2 28,123 29,741
SAAR 24,000 37,993
  September 2015 September 2016
Actual    
September — Single-detached 394 512
September — Multiples 1,125 2,680
September — Total 1,519 3,192
January to September — Single-detached 3,520 4,091
January to September — Multiples 11,716 18,107
January to September — Total 15,236 22,198
Preliminary Housing Start Data
September 2016
Abbotsford-Mission CMA1 August 2016 September 2016
Trend2 1,003 937
SAAR 594 643
  September 2015 September 2016
Actual    
September — Single-detached 55 31
September — Multiples 116 31
September — Total 171 62
January to September — Single-detached 270 378
January to September — Multiples 325 492
January to September — Total 595 870

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
September / 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 0 5 0 0 0 5
Burnaby CY 28 17 312 992 340 1,009
Coquitlam CY 29 47 14 214 43 261
Delta DM 14 23 44 54 58 77
First Nations / Premières nations 0 0 0 0 0 0
Greater Vancouver A RDA 1 0 53 0 54 0
Langley CY 0 0 0 8 0 8
Langley DM 21 66 20 100 41 166
Lions Bay VL 0 0 0 0 0 0
Maple Ridge CY 20 17 17 6 37 23
New Westminster CY 6 13 84 553 90 566
North Vancouver CY 4 8 2 14 6 22
North Vancouver DM 11 17 8 41 19 58
Pitt Meadows CY 0 2 0 0 0 2
Port Coquitlam CY 2 3 48 1 50 4
Port Moody CY 0 4 0 1 0 5
Richmond CY 61 49 32 37 93 86
Surrey CY 80 102 245 145 325 247
Vancouver CY 100 108 245 507 345 615
West Vancouver DM 13 24 0 2 13 26
White Rock CY 4 6 1 5 5 11
CMA Total 394 512 1,125 2,680 1,519 3,192

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
September / 2015 – 2016
  Singles Multiples Total
  2015 2016 2015 2016 2015 2016
Abbotsford CY 46 19 115 21 161 40
First Nations / Premières nations 0 0 0 0 0 0
Mission DM 9 12 1 10 10 22
CMA Total 55 31 116 31 171 62

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 11 0 0 8 11
Belcarra VL 0 1 0 0 0 1
Bowen Island IM 10 19 0 1 10 20
Burnaby CY 237 272 1,504 3,012 1,741 3,284
Coquitlam CY 204 286 454 1,243 658 1,529
Delta DM 105 106 462 282 567 388
First Nations / Premières nations 0 32 0 0 0 32
Greater Vancouver A RDA 4 1 460 0 464 1
Langley CY 6 2 0 22 6 24
Langley DM 185 311 720 771 905 1,082
Lions Bay VL 0 0 0 0 0 0
Maple Ridge CY 277 345 198 295 475 640
New Westminster CY 38 60 450 1,253 488 1,313
North Vancouver CY 31 49 784 603 815 652
North Vancouver DM 103 111 168 669 271 780
Pitt Meadows CY 11 14 38 0 49 14
Port Coquitlam CY 22 27 255 117 277 144
Port Moody CY 11 17 14 9 25 26
Richmond CY 349 365 1,202 1,400 1,551 1,765
Surrey CY 801 831 2,546 1,667 3,347 2,498
Vancouver CY 966 1,041 2,394 6,590 3,360 7,631
West Vancouver DM 107 152 33 59 140 211
White Rock CY 45 38 34 114 79 152
CMA Total 3,520 4,091 11,716 18,107 15,236 22,198

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 199 258 320 437 519 695
First Nations / Premières nations 0 0 0 0 0 0
Mission DM 71 120 5 55 76 175
CMA Total 270 378 325 492 595 870

Source: CMHC

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