New home starts up nine per cent in Metro Vancouver

Lower Mainland home builders say strong demand, growing economy has them building as fast as possible

New home construction is running at a fast pace so far this year

New home construction is up significantly so far this year in both Metro Vancouver and the Abbotsford area.

Metro Vancouver has recorded 17,325 home starts for 2015 up to the end of October, according to statistics released by the Canada Mortgage and Housing Corp.

That’s a nine per cent increase from the same 10 months of 2014.

“Everything is as good as we’ve seen it since 2008,” said Bob de Wit, CEO of the Greater Vancouver Home Builders’ Association. “We’re just building as fast as we can.”

Abbotsford has seen a 70 per cent jump, with 564 new units started compared to 333 to the same point in 2014, mainly due to a doubling in single detached house starts.

The new construction in Metro Vancouver was dominated by the 13,416 multi-family units – those condos and townhouses account for more than three quarters of this year’s activity.

But de Wit said all types of construction have been strong, crediting the growing economy, steady growth in household formation and housing demand from buyers that has outstripped the supply on the market.

Within Metro, Surrey has recorded 4,035 starts, followed by Vancouver at 3,807 and Richmond at 2,041. Surrey saw a big jump in multi-family starts, and they were also up significantly in Delta, North Vancouver City and Burnaby.

Just Posted

Abbotsford school board candidates spend $45k on election

That’s an average of $2,700 per candidate, but individual spending ranges from zero to $6,900

VIDEO: Langley Trappers take 3-2 series lead on Abbotsford Pilots

Sunday’s game six set for Langley’s George Preston Recreation Centre

FULL HOUSE: Patients feel the effects, with Abbotsford hospital at 118% capacity

Patients decry lack of privacy and sleep in B.C.’s most-crowded major hospitals

End drug prohibition to curb overdose crisis: Abbotsford advocate

Doug Smith with Drug War Survivors says removing criminal aspect would curb the crisis

Man sentenced for smuggling drugs and shooting at border guards

Nathan Hall was arrested in Abbotsford in 2013 after day-long manhunt

VIDEO: Iconic ‘snow cone’ takes shape at B.C. park near Clearwater

Snow cone forming at Wells Gray Provincial Park one that would make Disney’s Queen Elsa proud

A ‘warm embrace’ for grieving parents at funeral of seven young fire victims

Mourners offered love and support to Kawthar Barho, mother of seven children

Indigenous leaders, politicians say Trans Mountain report flawed

The National Energy Board has endorsed an expansion of the Trans Mountain pipeline a second time

UPDATE: Reports of rashes prompt closure of all Harrison Hot Springs pools

Public pool available after Fraser Health shut down all five mineral pools until further notice

Legislation to protect B.C. farmland comes into effect

Regulations enhance food security, encourage long-term farming

Have you heard the legend of Shuswaggi, the Shuswap Lake monster?

Witness accounts as old as 1904, and as recent as 2018, place a creature in the lake’s depths

UPDATE: B.C. ticket holder winner of $25.9-million Lotto Max jackpot

Next draw set for Mar. 1 with an estimated jackpot of $10 million

B.C.-based ‘Team Tardi’ brings home gold in junior curling worlds

In a 9-4 victory over Switzerland, a Langley-based curling team earned its 2nd straight world title

B.C. weavers to help Alaska Native project honouring survivors of violence

Dozens of Chilkat and Ravenstail weavers from all over North America will be weaving 5-inch-by-5-inch squares

Most Read