Kelowna region new-home starts booming

The Kelowna census metropolitan area saw near-record levels of new home construction in April.

The Kelowna census metropolitan area (CMA) saw near-record levels of new home construction in April, while Vernon and Kamloops both continued to experience robust growth in the apartment and condominium markets.

The Canada Mortgage and Housing Corporation (CMHC) released its April statistics this week.

“Housing starts activity in the Kelowna CMA picked up significantly in April, driven in large part by the multi-unit segment,” said Taylor Pardy, CMHC’s senior analyst for Kelowna, Southern Interior and Northern BC.

“The recovery in housing starts activity, almost rivalling the record starts seen in April 2017, was the result of some large apartment rental and condo projects getting underway. Multi-unit housing demand, both rental and ownership, remains strong in the Kelowna CMA, while vacancy rates and homes listed for sale remain low.”

Stats show in Vernon, 145 apartment units and 44 condo units started in April.

Canada highlights include:

The trend in housing starts was 225,696 units in April 2018, compared to 226,942 units in March 2018, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

Just Posted

Two Okanagan groups receiving grants to aid with overdose crisis

Community innovation grants awarded to address overdose crisis at the local level

UBC Okanagan to host Kelowna mayoral candidate forum

The forum takes place Oct. 15 on campus

Okanagan College looks to reduce natural gas consumption

The college’s natural gas consumption has dropped 51.7 per cent in a decade

Rockets fall to Tri-City Americans

The Rockets lost to the Ams on Saturday night

Kelowna Rockets defeat Tri-City Americans Friday night

Kelowa got a much needed win in and improve ranking

Secret supper clubs test appetite for cannabis-infused food ahead of legalization

Chefs are eagerly awaiting pot edibles to become legal in Canada

Documentary series investigates missing North Okanagan women

APTN Investigates: Dark Valley airs Oct. 19

Enbridge to begin building road to access pipeline explosion site in B.C.

An explosion Tuesday knocked out a 91-centimetre line

Andrew Scheer on revamped NAFTA deal: ‘I would have signed a better one’

Conservative leader says he wouldn’t have signed USMCA

Matheson will have NHL hearing after Canucks rookie Pettersson hit

The 19-year-old Swedish centre appeared woozy after the hit

GUEST COLUMN: A better way to manage B.C.’s public construction

Claire Trevena responds to Andrew Wilkinson on NDP union policy

B.C. brewery creates bread beer from food waste

The brew aims to raise food waste awareness and provide funds for the food bank

Dad files Charter challenge after B.C. bans kids from taking transit unsupervised

Adrian Crook is taking his fight to B.C. Supreme Court

B.C. VIEWS: Cast your municipal vote for sanity on homelessness

Thousands on waiting list while anti-capitalist bullies get priority

Most Read