New home starts up nine per cent in Metro Vancouver

Lower Mainland home builders say strong demand, growing economy has them building as fast as possible

New home construction is running at a fast pace so far this year

New home construction is up significantly so far this year in both Metro Vancouver and the Abbotsford area.

Metro Vancouver has recorded 17,325 home starts for 2015 up to the end of October, according to statistics released by the Canada Mortgage and Housing Corp.

That’s a nine per cent increase from the same 10 months of 2014.

“Everything is as good as we’ve seen it since 2008,” said Bob de Wit, CEO of the Greater Vancouver Home Builders’ Association. “We’re just building as fast as we can.”

Abbotsford has seen a 70 per cent jump, with 564 new units started compared to 333 to the same point in 2014, mainly due to a doubling in single detached house starts.

The new construction in Metro Vancouver was dominated by the 13,416 multi-family units – those condos and townhouses account for more than three quarters of this year’s activity.

But de Wit said all types of construction have been strong, crediting the growing economy, steady growth in household formation and housing demand from buyers that has outstripped the supply on the market.

Within Metro, Surrey has recorded 4,035 starts, followed by Vancouver at 3,807 and Richmond at 2,041. Surrey saw a big jump in multi-family starts, and they were also up significantly in Delta, North Vancouver City and Burnaby.

Just Posted

VIDEO: Surrey hair salon joins sustainability initiative

Hair can be used to create boom to clean up oil spills: Green Circle Salons

White Rock breaks temperature record

B.C. city was the hottest in all of Canada

South Surrey church members ‘praying for accused mother… for the whole process’

Lisa Batstone’s second-degree murder trial continues this week in B.C. Supreme Court

City will ask Fraser Health to remove pay parking at SMH, Surrey councillor says

Surrey’s new council has already made parking free on neighbouring city streets

VIDEO: Health and Technology District breaks ground on new building

City Centre 3 is the third of eight planned buildings: Lark Group

Trudeau offers to help Pacific islands face climate change impact

Prime Minister Justin Trudeau met with the leaders from the Pacific island nations on Saturday during the APEC Summit in Papua New Guinea

Everett pulls ahead in Western Conference standings over Vancouver Giants

Western Hockey League’s G-Men, who lost 6-5 to Everett Saturday, now prepares to take on Victoria.

Price makes 36 saves as Habs edge Canucks 3-2

Late goal lifts Montreal past Vancouver

BC Minister of Agriculture loses stepson to accidental overdose

Lana Popham announces death of her 23-year-old stepson, Dan Sealey

Canadian military’s template for perfect recruits outdated: Vance

Gen. Jonathan Vance, the chief of defence staff says that the military has to change because the very nature of warfare is changing, particularly when it comes to cyber-warfare

‘Toxic’ chosen as the Word of the Year by Oxford Dictionaries

Other top contenders for 2018 include ‘gaslighting’ and ‘techlash’

RCMP bust illegal B.C. cannabis lab

Marijuana may be legal but altering it using chemicals violates the Cannabis Act

1 woman dead, man in hospital after ‘suspicious’ crash: police

Homicide investigators and Burnaby RCMP are investigating the fatal collision

Canada defeats Germany 29-10 in repechage, moves step closer to Rugby World Cup

Hong Kong needs a bonus-point win over Canada — scoring four or more tries — while denying the Canadians a bonus point

Most Read