April 11, 2011
A healthy 958 housing starts were registered in Vancouver over March, according to data released recently by the Canadian Mortgage and Housing Corporation (CMHC). The numbers amount to a nine percent increase over March of last year.
Multiple-unit starts were responsible for the growth.
Vancouver’s Census Metropolitan Area, which includes Richmond and Surrey, was a bright spot, though, against a rather dark provincial picture. In British Columbia as a whole, March’s seasonally adjusted annual rate of urban starts decreased by 23.4 percent from last year, according to the CMHC.
The Vancouver Sun quoted Peter Simpson, president and CEO of Greater Vancouver Home Builders Association, who put a positive face on the situation. “ The numbers in 2010 and even in 2011 so far are still not on par with the heady days where we’d be setting all sorts of records,” he said, “but there’s nothing wrong with a sustained market like we’re seeing now.”
True enough. Maybe a Canucks Stanley Cup run will be the spark BC’s (beyond-Vancouver) housing market needs?