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Vancouver Housing Starts Set Record Year

VANCOUVER, January 10, 2017 — Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 25,980 units in December compared to 27,455 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.

“Total housing starts trended lower in December, but were in line with the monthly average for 2016,” said Robyn Adamache, CMHC Principal Market Analyst for Vancouver, “Starts in 2016 set a new record for the region that was bolstered by strong rental construction in the cities of Vancouver, New Westminster and Surrey.”

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 26,477 units in December, down from 31,901 units in November. The decrease in the SAAR for Vancouver was concentrated in apartment starts, which fell back from a strong November.

Housing starts in the Abbotsford-Mission CMA were trending at 889 units in December, down from 970 units in November. This downward trend was broad-based across 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.

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Media Contact

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

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate

Preliminary Housing Start Data
December 2016
Vancouver CMA1 November 2016 December 2016
Trend2 27,455 25,980
SAAR 31,901 26,477
  December 2015 December 2016
Actual    
December — Single-detached 350 284
December — Multiples 1,707 1,870
December — Total 2,057 2,154
January to December — Single-detached 4,622 5,169
January to December — Multiples 16,241 22,745
January to December — Total 20,863 27,914
Preliminary Housing Start Data
December 2016
Abbotsford-Mission CMA1 November 2016 December 2016
Trend2 970 889
SAAR 248 817
  December 2015 December 2016
Actual    
December — Single-detached 27 39
December — Multiples 13 27
December — Total 40 66
January to December — Single-detached 393 469
January to December — Multiples 413 667
January to December — Total 806 1,136

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
December / 2015 - 2016
  Singles Multiples Total
  2015 2016 2015 2016 2015 2016
Anmore VL 2 -- -- -- 2 --
Belcarra VL -- 2 -- -- -- 2
Bowen Island IM 1 5 -- 2 1 7
Burnaby CY 10 34 44 748 54 782
Coquitlam CY 13 15 243 15 256 30
Delta DM 14 15 15 25 29 40
First Nations / Premières nations -- -- -- -- -- --
Greater Vancouver A RDA 1 1 -- 176 1 177
Langley CY 1 4 57 -- 58 4
Langley DM 22 35 164 106 186 141
Lions Bay VL -- -- -- -- -- --
Maple Ridge CY 24 19 9 74 33 93
New Westminster CY 8 2 405 6 413 8
North Vancouver CY 7 5 4 7 11 12
North Vancouver DM 9 -- 7 -- 16 --
Pitt Meadows CY 2 -- 3 -- 5 --
Port Coquitlam CY 2 2 1 3 3 5
Port Moody CY -- 3 -- -- -- 3
Richmond CY 31 30 374 144 405 174
Surrey CY 59 63 151 351 210 414
Vancouver CY 133 44 170 212 303 256
West Vancouver DM 11 4 -- -- 11 4
White Rock CY -- 1 60 1 60 2
CMA Total 350 284 1,707 1,870 2,057 2,154

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
December / 2015 - 2016
  Singles Multiples Total
  2015 2016 2015 2016 2015 2016
Abbotsford CY 21 28 13 27 34 55
First Nations / Premières nations -- -- -- -- -- --
Mission DM 6 11 -- -- 6 11
CMA Total 27 39 13 27 40 66

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 10 24 -- -- 10 24
Belcarra VL -- 3 -- -- -- 3
Bowen Island IM 18 26 -- 3 18 29
Burnaby CY 308 357 1,610 3,815 1,918 4,172
Coquitlam CY 242 342 729 1,283 971 1,625
Delta DM 142 146 493 336 635 482
First Nations / Premières nations -- 33 -- 3 -- 36
Greater Vancouver A RDA 6 3 460 212 466 215
Langley CY 9 10 184 22 193 32
Langley DM 261 406 1,043 977 1,304 1,383
Lions Bay VL -- -- -- -- -- --
Maple Ridge CY 334 406 214 420 548 826
New Westminster CY 58 70 862 1,165 920 1,235
North Vancouver CY 41 68 792 811 833 879
North Vancouver DM 145 135 185 681 330 816
Pitt Meadows CY 13 16 41 2 54 18
Port Coquitlam CY 26 34 434 185 460 219
Port Moody CY 12 32 14 11 26 43
Richmond CY 472 474 2,185 1,741 2,657 2,215
Surrey CY 1,009 1,063 3,552 2,408 4,561 3,471
Vancouver CY 1,309 1,280 3,307 8,479 4,616 9,759
West Vancouver DM 150 189 33 65 183 254
White Rock CY 57 52 103 126 160 178
CMA Total 4,622 5,169 16,241 22,745 20,863 27,914

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 297 321 408 612 705 933
First Nations / Premières nations -- -- -- -- -- --
Mission DM 96 148 5 55 101 203
CMA Total 393 469 413 667 806 1,136

Source: CMHC

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