Greater Victoria New Housing & Construction Starts Improve, for the 2nd month in a row.
Greater Victoria New Housing & Construction Starts increased to 137 homes in October 2011 compared to the same month a year ago.
All 85 multi-family starts in October were recorded in 2 of the core markets (Esquimalt and the City of Victoria), while the West Shore (Langford, Colwood, Highlands and Metchosin) accounted for nearly three-quarters of the 52 single detached starts.
October 2011 marked the second consecutive month in which Greater Victoria New Construction Housing starts in both the single detached and multi-family segments increased relative to their 2010 levels.
Despite the recent rebound in new home construction activity, due to the slow start to the New House Construction early in 2011 has contributed to a Year To Date total of slightly fewer housing starts in the first ten months of 2011 compared to the same period last year For Greater Victoria, however signs of recovery in New Housing construction are starting to show up everywhere around Greater Victoria.
The Source for this blog post is Adapted from: CMHC Canada Mortgage and Housing Corporation in its Monthly Housing Market Information Report Called "Housing NOW Victoria for November 2011. You can review the entire detailed report at CMHC's Excellent website direct link .
Here is a link to the Victoria Real Estate Board Statistical Reports, and published every month.
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Greater Victoria New Housing & Construction Starts Improve, for the 2nd month in a row.
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