It’s shaping up to be a record year for housing starts in Kelowna.
According to stats released by Canada Mortgage and Housing Corporation, the first five months of 2017saw the strongest spring building season on record for Kelowna.
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CMHC said the surge in new homes is largely being driven by large apartment rental projects.
Kelowna’s vacancy rate remains below one-percent.
According to CMHC, there were more than 1,600 housing starts in Kelowna between January and May — compared to 876 between the same period last year.
So far this year, more than 1200 apartment units have been built or are under construction — compared to 635 units the same time last year.