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Kelowna  

Housing starts take big dip

The number of housing starts in Kelowna continues to drop, but the 2018 total remains well above the 10-year average.

Single starts are down 29 per cent in 2018 compared to 2017, while multi-unit segments have decreased by 28 per cent.

“Despite this decrease in construction activity, the pace of housing starts in 2018 remains well above the 10-year average,” Canadian Mortgage and Housing Corporation analyst Taylor Pardy said in a press release.

There were 31 single starts in Kelowna in August compared to 56 last year. The same trend occurred in multi-unit starts; there were 444 in August 2017 but just 295 this year.

Vernon had 20 overall starts in August compared to 18 in the same month last year. Despite the relatively quiet August, the city is still well ahead of 2017 construction levels.



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