CMHC reports Victoria’s housing starts remain steady but returned to their historical average in January after an exceptionally strong 2016. They report 64 single-detached and 111 multi-family. This is in line with Yellow Sheet Construction Data’s report showing reduced building permit values at the end of last year.
This also supports our view that the economy and regulatory challenges are by far the most influential factors in our market, not foreign buyers. Read https://www.vrba.ca/rising-prices-preceded-stagnation/ and https://www.vrba.ca/misguided-policy-undermines-housing-supply/