New home starts up nine per cent in Metro Vancouver

Lower Mainland home builders say strong demand, growing economy has them building as fast as possible

New home construction is running at a fast pace so far this year

New home construction is up significantly so far this year in both Metro Vancouver and the Abbotsford area.

Metro Vancouver has recorded 17,325 home starts for 2015 up to the end of October, according to statistics released by the Canada Mortgage and Housing Corp.

That’s a nine per cent increase from the same 10 months of 2014.

“Everything is as good as we’ve seen it since 2008,” said Bob de Wit, CEO of the Greater Vancouver Home Builders’ Association. “We’re just building as fast as we can.”

Abbotsford has seen a 70 per cent jump, with 564 new units started compared to 333 to the same point in 2014, mainly due to a doubling in single detached house starts.

The new construction in Metro Vancouver was dominated by the 13,416 multi-family units – those condos and townhouses account for more than three quarters of this year’s activity.

But de Wit said all types of construction have been strong, crediting the growing economy, steady growth in household formation and housing demand from buyers that has outstripped the supply on the market.

Within Metro, Surrey has recorded 4,035 starts, followed by Vancouver at 3,807 and Richmond at 2,041. Surrey saw a big jump in multi-family starts, and they were also up significantly in Delta, North Vancouver City and Burnaby.

Just Posted

Langley’s “spider house” now open for Halloween haunts

Brinkworth Dungeon adds an extra 1600 square feet for more terror during their 19th year

Aldergrove Kodiaks beat Surrey Knights by a landslide victory at home

The bears took out Surrey 15-0, ending their own four-game losing streak

LETTER: Langley riding campaign manager sets the record straight

Not all Cloverdale-Langley candidates attended all local all-candidate forums.

LETTER: Langley letter writer defends local Conservative candidate

A local man says blackface issue for Tamara Jansen completely different than Trudeau’s actions

Zoo awarded for its restoration of the Salmon River

The zoo was recognized in collaboration on the project with LEPS and Person Ecological

ELECTION 2019: It’s so close, it could come down to who turns out to vote

Black Press Media’s polling analyst on the origins of predictive seat modelling in Canada

Zantac, the over-the-counter heartburn drug, pulled in Canada, U.S.

Health Canada also investigates possible carcinogen in some ranitidine drugs

$50,000 reward for ‘extremely violent’ South Surrey murder suspect renewed

Offer for information on Brandon Teixeira to remain in effect through April, 2020

B.C. public safety minister says cannabis edibles not in stores til January

Mike Farnworth says he wants regional issues considered when it comes to licensing

Greta Thunberg calls for climate action in Alberta, but doesn’t talk oilsands

Swedish teen was met with some oil and gas industry supporters who came in a truck convoy

Scheer denies spreading ‘misinformation’ in predicting unannounced Liberal taxes

Conservative leader had claimed that a potential NDP-Liberal coalition could lead to a hike in GST

Council asks to limit cruise ship visits to Victoria harbour

Mayor says motion is not meant to curtail current visits or limit local cruise industry expansion

Chilliwack man pleads guilty in crash that killed pregnant woman

Frank Tessman charged under Motor Vehicle Act for accident that killed Kelowna school teacher

Kawhi Leonard, former Toronto Raptor, welcomed back to Vancouver at pre-season game

Fans go wild at pre-season game between L.A. Clippers and Dallas Mavericks at Rogers Arena

Most Read