Housings starts were up in in August reflecting the strong demand from consumers we have seen over the past year. The Canada Mortgage and Housing Corporation (CMHC) recorded 1,488 housing starts in Metro Vancouver during August 2010, bringing the total number of Vancouver CMA housing starts to 9,493 for the year.

“Many centres across the Vancouver CMA have seen a rise in single detached housing starts in response to strong consumer demand for ground oriented housing. Not only are developers building in areas of raw land supply, but also there has been an increase in infill developments in areas such as Vancouver City, Burnaby and Richmond,” said Robyn Adamache, Senior Market Analyst for CMHC. “Multiple family units still dominate new home construction activity, making up more than two-thirds of all housing starts in the CMA,” noted Adamache.

Nationally, the seasonally adjusted annual rate of total housing starts dipped to 183,300 units in August. In British Columbia, August’s seasonally adjusted rate of urban housing starts moved higher to 25,400 units, from 20,100 units in July.

Download the full CMHC August 2010 Housing Starts Press Release>>