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Victoria Housing Starts Strongest in 27 Years

Greater Victoria will post the strongest housing start numbers in 27 years. CMHC announced 2,787 starts in year-to-date, surpassing the 2006 total of 2,739. The next greatest number of starts was 27 years ago in 1989 at 3,247 starts. While the news is good for jobs in the region, it is still a concern that 80% of the starts occur in 3 municipalities – Victoria, Langford and Saanich. The remaining 10 municipalities represent only 20%. For example, year to date there have been only 3 housing starts in Metchosin. Land use regulations in some municipalities present a challenge to affordable housing and drive up costs.

Victoria report is here.

BC report is here.

 

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