Housing starts in Kelowna for September

Kelowna’s strengthening resale market continues to support a stable demand for new homes of all dwelling types.

Housing starts in the Kelowna Census Metropolitan Area (CMA) were trending at 1,204 units in September compared to 1,220 units in August, according to Canada Mortgage and Housing Corporation (CMHC).

The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“The trend measure for total housing starts remained steady in September. Kelowna’s strengthening resale market continues to support a stable demand for new homes of all dwelling types,” reported Sarena Teakles, CMHC senior market analyst.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of thehousing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.

The stand-alone monthly SAAR was 1,256 units in September, compared to 1,007 units in August.

Actual housing starts in Kamloops and Vernon were higher in September 2014 compared to last year.

This boost in housing starts has pushed year-to-date figures in Vernon over year-earlier levels. The total count of 2014 starts in Kamloops, however, remained below the number recorded last year.

Across northern British Columbia, year-to-date actual housing starts data revealed pockets of heightened new home construction activity. Areas of note included Fort St. John, Dawson Creek and Terrace. In Prince George, a decline in the number of multiples starts throughout the year has resulted in fewer new homes underway compared to the same period a year ago.

 

Just Posted

Missing Kelowna woman, Cassy Miller found dead

Miller went missing Nov. 6 and was found 10 days later

Kelowna’s definitive Christmas market list

We’ve prepared a list of every market in the Central Okanagan

Your guide to winter light ups around the Okanagan

From Vernon to Summerland, with a stop in Kelowna, we’ve found some activities for you to enjoy

Three UBC Okanagan students awarded women in tech scholarships

Computer science and math students hope the award will inspire others

Saving salmon: B.C. business man believes hatcheries can help bring back the fish

Tony Allard worked with a central coast First Nation to enhance salmon stocks

High-end B.C. house prices dropping, but no relief at lower levels

But experts say home ownership remains out of reach for many for middle- and lower-income families

Worker killed in collision at B.C. coal mine

Vehicle collision occurred at approximately 10:45 a.m. this morning

B.C. asking for tips on ‘dirty money’ in horse racing, real estate, luxury cars

Action follows a Peter German report on money laundering in B.C. casinos

Canadian dead more than a week after plane crash in Guyana: Global Affairs

Global Affairs said it couldn’t provide further details on the identity of the Canadian citizen

Children between 6 and 9 eligible for $1,200 RESP grant from province

BC Ministry of Education is reminding residents to apply before the deadline

Victoria spent $30,000 to remove John A. Macdonald statue

Contentious decision sparked controversy, apology from mayor

South region forestry workers nearly in legal strike position

Talks broke down between USW and IFLRA, resulting in booking out of provincial mediator

Privacy concerns over credit card use for legal online pot purchases

Worries follow privacy breaches at some Canadian cannabis retailers

Most Read