Monday, December 09, 2013

Nanaimo Housing Starts November 2013

Housing Starts In Nanaimo November 2013
Housing Starts Up 78%  
November 2013 / 2012
Single Detached Off 5 Units
Multiple Starts Up 34 Units 

Single detached housing starts in Nanaimo decreased in Nov. from 23 in 2012 to 18 in 2013 while multi- family units were increased from 14 in 2012 and 48 in 2013 resulting in a combined total of 66 units in 2013 as opposed to 37 units in 2012.

The year to date totals show a decline from 605 units reported YTD in Nov. 2012 compared with 383 units YTD in Nov. 2013.

The YTD shows 229 single detached units in 2012 declining to 189 units in 2013, while Multiples declined from 376 units in 2012 to 194 units in 2013.

It should be noted that last year at this time the multiple housing starts figure was boosted by the large apartment complex being built on Terminal Avenue. So as much as the numbers show a massive decline, it is not as gloomy as it might look since one project accounted for the large number of multiple housing units being built last year.

How Nanaimo Compares

The following shows YTD housing start data for comparable urban centres:
  • Chilliwack 423 starts
  • Courtenay  126 starts
  • Kamloops   463 starts
  • Nanaimo    383 starts
  • Pr. George 179 starts
  • Vernon     177 starts
YTD housing start data for larger urban centres
  • Abbotsford-Mission 643 starts
  • Kelowna      862 starts
  • Vancouver 16,950 starts
  • Victoria   1,482 starts


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