The first quarter of 2007 saw 165 units in Nanaimo compared with the same period in 2008 of 247 units. The month of March saw a total of 134 new units, including apartment and condo units compared with 58 units in March 2007.
Overall the Canadian housing market is described as brisk in March according to CMHC statistics. The overall actual starts of both urban and rural housing in Canada for the month of March showed an increase of 12.8% over the previous year.
For readers wanting more detail the following is the complete press release from CMHC released on April 8/08.
Housing Starts Brisk in March
“The high level of starts posted in February continued in March, thanks to the multiple segment and particularly condominium starts, which registered a significant rise in
In March the seasonally adjusted annual rate of urban starts edged down by 0.4 per cent to 221,500 units compared to February. Urban multiples were up 1.1 per cent to 141,000 units, while singles decreased 2.9 per cent to 80,500 units.
The seasonally adjusted annual rate of urban starts went down in three of
Rural starts were estimated at a seasonally adjusted annual rate of 33,200 units in March.
For the first quarter of 2008, actual starts, in rural and urban areas combined, were up an estimated 12.8 per cent compared to the same period last year. Actual starts in urban areas alone increased by an estimated 15.8 per cent year-to-date. Actual urban single starts for the first three months were 10.7 per cent lower than they were a year earlier, while multiple starts increased by 35.6 per cent over the same period.
1. All starts figures in this release, other than actual starts, are seasonally adjusted annual rates (
As
For more information, call 1-800-668-2642.
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