Around Town: CMHC releases August 2018 Housing Starts data
Highlights include:
- Langford continues to pace Greater Victoria in housing construction, as 387 apartments were started in August of 2018
- A busy summer construction season continued in Courtenay throughout August, driven mainly by heavy activity in the single-detached market
- Nanaimo saw 139 apartments break ground in August 2018, as double the amount of housing starts were recorded in August 2018 as August 2017
The Canada Mortgage and Housing Corporation has released its August Housing Starts and a busy summer construction season continued in Courtenay throughout August, driven mainly by heavy activity in the single-detached market.
“The Victoria Census Metropolitan Area (CMA) housing starts trended higher in August on elevated multi-family construction. A large majority of the starts were in Langford, concentrated in rental projects. Year-to-date starts were up 32% in 2018 from 2017,” said Braden Batch, CMHC’s senior analyst. “The increase in starts was not reflected in the single-detached numbers, which were down 5% year-to-date.”
Len Catling, Senior Officer, Media Relations
Email: lcatling@cmhc-schl.gc.ca
For more information visit www.cmhc.ca
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