Thursday, March 8, 2007

February Housing Starts

CMHC released February's housing starts numbers for Vancouver Island today. The document can be found here.

Greater Victoria has had 389 housing starts thus far this year (Jan - Feb). This is up 6% from the same period last year (367). Not much difference there. However, it is still an increase, and with sales numbers generally lower than last year, this again shows how inventories will continue to increase. Combined, Langford and Colwood have 65% of the February starts for Greater Victoria. I'm a little surprised that Sooke has only 7 starts in February. I thought they were building faster than that out there. Then again, those 7 starts are probably SFH, while a lot of the starts in Langford and Colwood are probably condo / townhomes.

They're going gang-busters in Courtenay this year! 215% increase in starts between 2006 and 2007! Is their population growing that fast???