Latest statistics show huge increase in housing starts in Greater Vancouver in 2010

The latest statistics from the Canada Mortgage and Housing Corporation show a huge increase in housing starts in Greater Vancouver in the first 11 months of 2010, compared to the same period a year ago. The number of multiple-unit-dwelling starts rose 95 percent, whereas the number of single-detached-home starts went up by 64 percent.

In Vancouver, the number of multiple-unit starts more than tripled to 2,917. In the City of North Vancouver, the number of multiple-unit starts rose more than eight times, rising to 246 for the period between January and November 2010. White Rock was the only municipality in the Lower Mainland that recorded a reduction in both single-detached and multiple-unit-dwelling starts in the first 11 months of this year, compared to the same period over the previous year.

Comments

2 Comments

strange!

Dec 8, 2010 at 8:14pm

who is buying???

Garth Carney

Dec 19, 2010 at 10:51am

I just wish there were regulations to prevent the building industry from over-building. If a surplus supply of housing inventory is created then Greater Vancouver will be a few interest rate increases away from the "bubble" and the inevitable "correction" widely talked about for the past 5 years. If the money-grubbing building industry is allowed to deep-six local markets, homeowners will once again be plundered at their hands and the politicians who enable it.

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