Housing construction rises

There were 20 unit starts in Vernon in October, compared to 16 in the same month in 2014.

Housing starts are on the upswing in the North Okanagan.

Numbers from the Canadian Mortgage and Housing Corporation show there were 20 unit starts in Vernon in October, compared to 16 in the same month in 2014.

Of the 20 starts, there were 14 single-detached units compared to nine during the same month  last year while there were six multiple units, down from seven.

Year-to-date, there have been 239 housing units of all types in 2015, while there were 174 during the first 11 months of 2014.

The year-to-date statistics for Vernon include 165 single units and 74 multiple units.

In the Kelowna area, numbers were trending at 1,377 units in October, down from 1,384 units in September.

The trend is a six- month moving average of the monthly seasonally adjusted annual rates of housing starts.

“New construction activity for both single-detached and multiple-unit housing segments increased in October compared with the same month last year,” said Taylor Pardy, CMHC senior market analyst.

 

 

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