New home construction in Canada dipped 4.5 per cent from June to July to 193,000 units at a seasonally adjusted annual rate (SAAR). The six-month trend in Canadian housing starts was up slightly.
BC housing starts rose to 36,500 units from a strong 35,000 units SAAR in June.
Compared to 2014, housing starts increased 36% with single-detached starts 3% higher and multiple unit starts were up 54% .Total housing starts in BC are up 19% YTD.
Total starts in the Vancouver CMA were up 44 per cent year-over-year in July due to a 60% surge in multi-unit starts.
August 11, 2015