Kelowna housing starts soar in 2016: CMHC
It’s been a banner year for housing starts in Kelowna according to the Canadian Mortgage and Housing Corporation (CMHC).
The latest numbers show housing starts up 64 per cent in the first nine months of 2016, compared to the same period last year.
“Increased migration to the Kelowna area, stronger resale market activity, low inventories of unsold new and existing homes and a low vacancy rate remain supportive of new construction in 2016 – particularly in the multi-unit segment of the market,” said CMHC senior market analyst, Taylor Pardy.
Starts in Vernon were also up this year compared to 2015, but new builds were down this September year-over-year.
© 2016 Global News, a division of Corus Entertainment Inc.