Housing Starts – November 2011

Canadian housing starts moderated in October, falling 1.1 per cent to a seasonally adjusted annual rate of 207,600 units (September starts were revised higher, to 208,8000). New home construction in BC also increased, rising 1.5 per cent from last month to a seasonally adjusted annual rate of 27,800 units.

Housing starts rose 19 per cent in Vancouver compared with October 2010 due to a 30 per cent increase in multi-family construction and a 10 per cent decline in single-family starts. New home construction in Abbotsford rose 46 per cent in comparison to October of last year as a result of a jump in multi-family starts. Housing starts in Victoria rose 61 per cent with both single family and multi-family starts running ahead of October 2010. New home construction in Kelowna was up 35 per cent year over year.
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