An apartment building under construction in downtown Vernon. (Liam Verster/Vernon Matters)

By Liam Verster

Housing Stats

Housing starts in Vernon far surpassing 2021 figures

Apr 20, 2022 | 6:00 AM

Greater Vernon saw 106 housing starts last month.

Canada Mortgage and Housing Corporation (CMHC) data for March shows that 16 of the new builds were single family houses, and 90 were apartment units.

The starts in March were up significantly on a year over year basis, as there were just 35 last March. Those consisted on five single homes and 30 apartments.

However, the new homes were Vernon’s only annual increase noted by CMHC in March.

The stats show there were 18 completions and 17 absorptions, or sales of previously completed housing projects, in March of 2022. That’s down from the 29 completions and 31 absorptions in the same month last year.

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CMHC stated that the completed housing projects in March 2022 consisted of 11 single homes and seven row houses. The houses completed in the same month the year prior consisted of 13 single houses, four semi-detached and 12 row houses.

To date, there have been 167 housing projects started this year, with 46 completed and 39 sold. Comparatively, in the first three months of 2021, there were 59 starts, 60 completions and 59 absorptions.

by Liam Verster

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