Canadian housing starts rose 41 per cent to 281,373 units in June at a seasonally adjusted annual rate (SAAR). Starts were up 4 per cent from the same month last year. Single-detached housing starts rose 1 per cent to 55,552 units, while multi-family and others rose 55 per cent to 225,817 (SAAR).
In British Columbia, starts rose by 61 per cent in June to 65,904 units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts rose 2 per cent m/m to 6,402 units while multi-family starts rose 76 per cent to 57,241 units. Starts in the province were 17 per cent above the levels from June 2022. Month over month, starts were up by 19k in Vancouver, 4.3k in Victoria, and 2.6k in Kelowna, while declining by 1.3k in Abbotsford. The 6-month moving average trend rose 2.7 per cent to 51.4k in BC.
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