(News Release) VICTORIA – According to the Canada Mortgage and Housing Corporation (CMHC) 255 housing starts were recorded across urban Vancouver Island markets in October 2009.
“October marked the first month of the year in which a year-over-year increase in urban Vancouver Island housing starts was observed,” said Travis Archibald, CMHC Senior Market Analyst. “Despite the October rebound, construction has started on 49 per cent fewer homes across Vancouver Island’s five largest centres in 2009 relative to the first ten months of 2008.”
The level of October 2009 residential construction activity increased relative to September 2009 at both the provincial and national levels. Urban B.C. housing starts rose 15 per cent to 16,100 SAAR (seasonally adjusted at an annual rate), while total Canadian starts increased five per cent to 157,300 SAAR.
As Canada’s national housing agency, CMHC draws o n more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up -to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.
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For more information, visit www.cmhc.ca or call 1-800-668-2642.
Preliminary numbers are summarized on the attached tables. For further information contact:
Travis Archibald CMHC Victoria Office Lee F. King
Senior Market Analyst (250) 363-8040 Corporate Representative
(604) 999-7420 FAX (250) 995-2640 (250) 363-8050
tarchiba@cmhc.ca www.cmhc.ca lking@cmhc.ca
