Housing starts plummet
Okanagan Edge Staff - Oct 09 - Biz Releases

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The number of housing starts in Kelowna dropped significantly last month compared to September 2017, but the mark still remains significantly above the 10-year average, according to figures released Tuesday by the Canada Mortgage and Housing Corporation.

There were only 36 single-detached starts in September, which pales in comparison to the 91 from last year at this time. There were 31 other starts in Kelowna, which represented a 91 per cent drop over last year’s mark of 338.

Overall, there have been 1,838 starts in Kelowna this year, which is behind the 2,912 that were started through the first nine months of 2017.

There are 4,167 dwellings under construction in Kelowna at the moment, and 1,727 are rental apartments.

The situation is different in Vernon, where there have been 324 housing starts this year compared to 224 at this point last year.

Image: Contributed

Image: Contributed


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