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September 11, 2018 - 2:00 PM
The housing start data for Kelowna, Kamloops and Vernon is in for the month of August, with the majority of construction taking place in the form of apartments.
Kamloops and Kelowna both saw the majority of housing starts last month in apartment unit construction while Vernon had a quieter month for construction starts overall, according to a Canada Mortgage and Housing Corporation media release.
Kelowna specifically has had a slower year than usual, senior Canada Mortgage and Housing analyst Taylor Pardy says in the release.
Although Kelowna had a strong August for housing starts, the first eight months of 2018 saw a decrease in single-detached homes and multi-unit buildings compared to the record year of housing construction starts last year.
“Despite this decrease in construction activity, the pace of housing starts in 2018 remains well above the 10-year average," Pardy says.
Most of Kamloops new construction were apartments, while Vernon continued to trend well ahead of 2017 construction levels with single family homes, the release says.
Kelowna had 326 housing starts in August, with 271 being apartment units. Kamloops had a total of 149 housing starts of which 119 were apartment units. Half of Vernon's 20 housing starts were single-family homes.
Canada Mortgage and Housing does not provide detailed housing start data for Penticton.
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