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Kamloops and Kelowna lagging behind in new home construction

Image Credit: PEXELS/Mikael Blomkvist

Despite the huge demand for housing in Canada, the country as a whole, along with Kamloops and Kelowna in particular, is actually starting work on fewer homes so far this year than last.

Nationally, housing starts are down 8% to 143,372 to the end of August, according to the latest Canada Mortgage and Housing statistics.

Kamloops starts are down 23% so far this year from 289 in the first eight months of 2022 to 223 this year.

Kelowna’s starts are down 13% from 2,260 to 1,963.

Despite the overall drop, BC starts are up by 18% to 32,150 so far this year, led by Vancouver with a 47% increase to 23,044 – or 72% of the total.

Ontario is the only other province showing a year-over-year increase but only of 3% with Toronto leading the way with 35,105 starts, a 47% increase.

Toronto accounts for almost 61% of Ontario’s new housing.

Quebec is lagging far behind the rest of the country with a 43% drop in housing starts, fuelled largely by Montreal that saw a 53% drop to 8,195 this year. That’s 42% of Quebec’s total.

Calgary starts are basically flat with a 2% increase to 11,407 starts but Alberta starts, as a whole, are down 12%.

Of the country’s biggest cities, Guelph, leads the way with a 262% increase in housing starts to 984, while Lethbridge is faring the worst with an 83% drop to 116 starts from 692 last year.

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