Menu Filter

Single Detached Housing Starts Rise in Victoria

Greater Victoria’s housing starts continue to recover in 2014 from a challenging year in 2013.

CMHC reports single detached starts are up from 63 in Sept 2013 to 67 this year. Year to date is 423 starts compared with 391 last year.

Why do we monitor single detached starts?

They are excellent indicators of BC’s economy.

One large condo project can skew the numbers in a particular month, which is less likely with single detached.

Purchasers of single detached homes are often growing families needing more space.

If single detached numbers are increasing, young people are more confident in their employment. They feel more secure about starting families and planning for the future.

This signals an improving economy. Housing creates skilled jobs in every community, and adds significantly to retail sales in furniture, appliances, electronics, and much more.

Other BC regions also report increases in single detached homes.

That said, when demand increases, material and labour costs follow.

Monitor the housing starts on our website at www.vrba.ca

If you are ready to build or buy a home, use our online Expression of Interest form to get quotes and hire a professional builder.

Visit careawards.ca to view projects by our award winning builders, designers and trades.

There are no responses so far.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Join the Victoria Residential Builders Association – Sign up to become a member

CARE Awards Gold Sponsors

BCCA Employee Benefit Trust logo
previous arrow
previous arrow
next arrow
next arrow
Shadow
Slider