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By Liam Verster

Four Starts In February

Local new housing construction plummets

Mar 15, 2024 | 11:35 AM

Greater Vernon saw local housing project starts decline sharply on an annual basis last month.

Canada Mortgage and Housing Corporation (CMHC) reported just four new housing starts in February, down from 38 in the same month the year prior.

The projects recorded last month involved three single-family homes and one apartment.

To date, a total of just 16 housing starts have been reported in Greater Vernon this year.

While the local housing starts plummeted on an annual basis, that was not the case for the province or the nation.

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CMHC reported 3,620 housing starts in B.C. in February, which were part of 17,495 throughout Canada.

Comparatively, February of 2023 saw 2,787 housing projects started in B.C. and 15,822 across the country.

CMHC’s data showed the projects started in B.C. last month included 3,059 apartments, 306 single family homes, 168 row houses and 87 semi-detached homes.

In the first two months of 2024, a total of 5,884 housing projects had been started in B.C., which were part of the 32,373 starts recorded in Canada

by Liam Verster

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