Pexels

Kelowna construction strong for June

The city has more housing starts in June compared to last year

Kelowna had a busy month in the construction market with more than 200 new units being constructed in the city, says a Canada Mortgage and Housing Corporation report.

Kelowna housing trends were higher in June 2018 with more single-detached and multi-family units.

While the number of housing starts in the first half of 2018 was lower than last year’s record high, the pace of construction was still well above the 10-year average for the region,” said Taylor Pardy, CMHC’s senior market analyst for Kelowna, in a news release.

“Higher migration and population growth have fueled demand for new homes in the Kelowna CMA, particularly rental apartments, as vacancy rates have been below one per cent since 2015.”

According to the report, Kelowna had 300 new housing starts in June, compared to 200 in June 2017.

In the city, 42 per cent of these starts are condos, 30 per cent are rentals and 28 per cent are homeowners.


edit@kelownacapnews.com

Like us on Facebook and follow us on Twitter.

Just Posted

Drugs, cash, fake guns seized in Kelowna RCMP bust

A 43-year-old Kelowna woman is facing potential drug-related charges

City of West Kelowna releases proposed 2020 budget highlights

The $74.7 million operating budget includes the hiring of around eight new city staff

Suspects identified after allegedly assaulting nine Kelowna students

Jonathon Pictin and Lindsey Smith are facing charges

UPDATE: Council budgets for 11 additional cops, moves tax increase to 4.15 per cent

The mayor and council have begun their eight-hour meeting to pore through the budget line-by-line

School board approves enrollment plans at future H.S. Grenda Middle School

Only Grade 6 and 7 students will be attending Lake Country school when it opens in Sept. 2021

‘Not a decision I came to lightly:’ Scheer to resign as Conservative leader

Decision comes after weeks of Conservative infighting following the October election

‘British Columbians are paying too much’: Eby directs ICBC to delay rate application

Attorney General David Eby calls for delay in order to see how two reforms play out

Vernon bylaw says Frosty has to go: store owner

Vernon Teach and Learn told to take down inflatable snowman

VIDEO: Octopus, bald eagle battle after bird ‘bites off more than it can chew’ in B.C. waters

B.C. crew films fight between the two feisty animals in Quatsino off north Vancouver Island

Couple who bought $120k banana duct-taped to wall say artwork will be ‘iconic’

Pair compared it to Warhol’s ‘Campbell’s Soup Cans,’ which was initially ‘met with mockery’

Race to replace Andrew Scheer could be a crowded one

Many familiar faces, such as Maxime Bernier, Jason Kenney, Doug Ford and Kevin O’Leary, have said no

North Okanagan-Shuswap MP surprised by Conservative leader’s resignation

Arnold predicts Conservative party will remain united in its quest to become government

Vernon business evacuated after gas line hit

A natural gas line was struck, emergency responders unsure of size

Lug nuts loosened on several vehicles in Vernon

Mischief makers reportedly compromising cars; motorists reminded to check vehicles before operating

Most Read