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

Okanagan tech industry booming, contributes over $1.6 billion to regional economy

New study shows Okanagan tech sector contributes over $1.6 billion to regional economy

Pavement Patty slows drivers near Rutland Elementary

New survey reveals unsafe school zones during 2018 back-to-school week

Kelowna church closes and makes room for Starbright

Starbright Children’s Development Centre meeting need for space with major real estate purchase

Black Mountain / sntsk‘il’ntən Regional Park starts to take shape

Student volunteers from three local schools work on trail building project

Kelowna’s Pleasure Painters to host day of art

The annual art sale will take place Oct. 20

VIDEO: B.C. deer struggles with life-preserver caught in antlers

Campbell River resident captures entangled deer on camera

Princeton council candidate tackles accusations of racism

Luigi Gino Del-Ciotto‎ is one of 16 people vying for a spot on the Princeton City Council.

Man on scooter injured after being struck by semi on Trans-Canada Highway

Sicamous resident suffers non-life-threatening injuries, charges pending for semi driver

Still too many B.C. seniors in care facilities, on drugs

Seniors Advocate watching use of antipsychotics, opioids

Vernon murder case set back, again

Paramjit Singh Bogarh will appear in court Oct. 4

Officials: 3 killed in shooting at Maryland Rite Aid centre

FBI described the Aberdeen incident as an ‘active shooter situation’

The hunt for online herb: feds seek dope on hazy world of pot’s ‘cryptomarket’

In less than a month, Canada to be first industrialized country to legalize recreational marijuana

Despite protests, Russia’s anti-doping agency reinstated

On a 9-2 vote, the executive committee declared RUSADA as having satisfied conditions

The longest week: Carolinas worn out by Florence

Frustration and sheer exhaustion are building as thousands of people wait to go home seven days after the storm began battering the coast.

Most Read