Housing Starts Up 96%
June 2014 / 2013
June 2014 / 2013
Single Detached Up 14 Units
Multiple Starts Up 10 Unit
Multiple Starts Up 10 Unit
Single detached housing starts in Nanaimo increased in June from 20 in 2013 to 34 in 2014 while multi-family units increased from 5 in 2013 to 15 in 2014 resulting in a combined total of 49 units in 2014 as opposed to 25 units in 2013.
YTD Total Starts Up 30%
Year to date single detached increased from 108 in 2013 to 164 in 2014, multi-family increased from 97 in 2013 to 102 in 2014 for a combined total increase from 205 units in 2013 to 266 units in 2014.
How Nanaimo Compares
The following shows YTD housing start data for comparable urban centres:
- Chilliwack 320 starts
- Courtenay 117 starts
- Kamloops 228 starts
- Nanaimo 266 starts
- Pr. George 58 starts
- Vernon 95 starts
- Abbotsford-Mission 256 starts
- Kelowna 545 starts
- Vancouver 9110 starts
- Victoria 596 starts
Housing Starts Province Wide
JUNE 2014 HOUSING STARTS IN BRITISH COLUMBIAVancouver, July 9, 2014 - Housing starts in British Columbia’s urban areas1 were trending at 25,449 units in June compared to 26,133 in May, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)2 of housing starts.
“In June, the trend level of housing starts edged lower following May’s increase,” said Sarena Teakles, CMHC Senior Market Analyst. “The trend level of single-detached home starts was virtually unchanged from the previous month, as were semi-detached and row home starts. Apartment starts resumed a moderating trend as builders adjusted starts activity to take into account existing inventory of new completed and unabsorbed units.”
CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.
The standalone monthly SAAR was 26,675 units in June, compared to 28,078 units in May.
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