BCREA ECONOMICS NOW: Canadian Housing Starts - April 10, 2012
BCREA ECONOMICS NOW
Canadian Housing Starts - April 10, 2012
Looking at major metropolitan centres in BC, housing starts increased 26 per cent year-over- year in Vancouver. Single family starts declined slightly by 2 per cent while multi-family starts were 36 per cent higher than last year. Abbotsford new home construction tumbled 79 per cent year-over-year, though this was entirely the result of low activity in the multi-family sector compared to a relatively strong March 2011. New home construction in Victoria fell 47 cent year-over-year in March due to weakness in multi-family construction. Finally, new home construction in Kelowna posted 42 per cent growth year-over-year as a result of strong multi-family starts.
For more information, please contact:
Cameron Muir | Brendon Ogmundson |
Chief Economist | Economist |
Direct: 604.742.2780 | Direct: 604.742.2796 |
Mobile: 778.229.1884 | Mobile: 604.505.6793 |
Email: cmuir@bcrea.bc.ca | Email: bogmundson@bcrea.bc.ca |
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