2009 closed on a strong note for housing starts in the Vancouver area. The annual rate of housing starts reached 174,500 units in December, up almost 10,000 from November.
The improvement in housing starts was broad-based, with increases in both single and multiple starts coming in 9,700 higher than the previous month, the Canada Mortgage and Housing Corp. said Monday (11 Jan 2010).
The seasonally adjusted annual rate of urban starts increased 6.6 per cent to 157,100 units in December. Urban multiple starts such as condominiums increased by 6.7 per cent to 77,700 units, while single urban starts increased 6.4 per cent to 79,400 units.
Rural starts were estimated at a seasonally adjusted annual rate of 17,400 units in December.
Regionally, the rate of urban starts for the month increased by 17.8 per cent in Quebec, by 15 per cent in Atlantic Canada, by 8.7 per cent in British Columbia and by 2.9 per cent in Ontario. The rate of urban starts decreased by 3.8 per cent in the Prairies, the CMHC said.
For more details CMHC’s Housing Market Information.
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