BC housing starts will remain stable over next 2 years
BC housing starts look to remain stable over the next 2 years, according to Eric Bond.
He’s a senior market analyst for Vancouver Island at the Canada Mortgage and Housing Corporation.
Bond says demand for new homes in the province will be supported by employment and population growth, combined with low mortgage interest rates.
He adds in Courtenay this year they’ve observed 310 housing starts, which is an 85% increase over last year.
Bond says a lot of the activity has been in the construction of new apartment condos and rental apartments. Those 2 trends are ones they’ve seen across the entire province.