National

Drop in housing starts in Vancouver

Darpan News Desk The Canadian Press, 15 Jun, 2023 01:13 PM

Slower housing starts in Vancouver last month were a major contributor to a hefty drop in starts right across the country.

Canada Mortgage and Housing Corporation says housing starts in Vancouver tumbled 45 per cent in May.

The trend in housing starts has been declining steadily since November 2022.

Overall, Canada’s #housing starts saw a 23% month-to-month decline in May. The decrease was driven by declines in multi-unit construction in major markets.

Read more: https://t.co/k5DBbhjlks pic.twitter.com/xWdAerRVph
— CMHC (@CMHC_ca) June 15, 2023

The drop covered all types of projects -- from apartments and condos to other kinds of multi-unit developments -- and the trend was reflected in Montreal, where starts were off 35 per cent, and in Toronto, where starts fell 28 per cent.

Overall, C-M-H-C says housing starts across the country were down 23 per cent when compared with the month earlier.

Prev Next

MORE National ARTICLES

B.C. family doctor payment model takes effect

Adrian Dix says that number reflects doctors who signed up in advance or within hours of its launch, and he expects it to grow "dramatically." He says the model, developed by the province and Doctors of BC, aims to attract doctors to family practice and keep them there by addressing challenges that arise in the existing fee-for-service system.

B.C. family doctor payment model takes effect

Komagata Maru memorial in Canada vandalised for third time

The memorial honours 376 Indians, including Sikhs, Muslims and Hindus, who sailed to Canada from India in 1914, but were turned away by the country, which left them stuck on the ship for two months with dire conditions.

Komagata Maru memorial in Canada vandalised for third time

Canada's new anti-Islamophobia rep says sorry

The column, co-written with former Canadian Jewish Congress CEO Bernie Farber, cited polling data to say that "a majority of Quebecers" who supported Bill 21 also held anti-Muslim views. Farber and Elghawaby, a journalist and human-rights activist, were board members with the Canadian Anti-Hate Network at the time.

Canada's new anti-Islamophobia rep says sorry

Alberta's former top doctor hired by B.C.

A statement from the Ministry of Health says Dr. Andrew Larder, who previously served as a medical health officer at both Fraser and Interior Health, joins Hinshaw, and will also be on temporary assignment over the next several months.

Alberta's former top doctor hired by B.C.

Drug users say the 'fight continues' in B.C.

The meeting at the office of the Vancouver Area Network of Drug Users (VANDU) on the first day of the new policy began with a man handing out "know your rights" cards. They say people aged 18 and over carrying up to 2.5 grams of opioids, cocaine, methamphetamine and MDMA, or ecstasy, for their own use will not have those drugs confiscated.

Drug users say the 'fight continues' in B.C.

Vancouver home sales to remain flat, forecast says

While the current downturn has resulted in a price decline of about 10 per cent, the forecast says steady population growth in Metro Vancouver will underpin prices and maintain or even increase values. It says the average home price this year for apartments, attached and detached homes is expected to climb slightly to $1.2 million, a 1.4 per cent increase.