July Brings More Options for Buyers
August 2nd, 2022
Due to a significant increase in inventory, July brought more options for buyers in the... more »
January 9th, 2013
Data released by Canada Mortgage and Housing Corporation (CMHC) shows that 2012 was a year of variety when it came to housing starts on Vancouver Island. CMHC statistics show that in the Greater Victoria area some 1,700 housing starts of all types were reported last year – up from the 1,642 recorded in 2011. Nanaimo’s end of year total was 659 housing starts, down from 2011’s 720 starts. However the stats show slightly more single family homes being started in Nanaimo last year (248) when compared to the 246 begun the year before. During 2012 a total of 411 multi-family homes began construction in Nanaimo, down from the 474 started in 2011.
Elsewhere in VIREB’s coverage area last year Campbell River saw 218 housing starts of all types up from the 155 recorded during 2011. In the Courtenay/Comox area there were 278 housing starts during 2012 which is higher than the 2011 total of 265. Cowichan Valley’s year-end total of 162 housing starts is nearly identical to 2011’s tally of 163. The Parksville/Qualicum Beach area and Port Alberni each showed fewer housing starts last year when compared to the year before. In the Oceanside area there were 90 housing starts last year – while there were 149 during 2011. Port Alberni recorded 45 housing starts in 2012, down from the 2011 total of 83.