The Canada Mortgage and Housing Corporation (CMHC) recently published its latest data on housing starts, housing under construction, and housing completions. Here are a few of the highlights:
Canada saw 271k housing starts last year (2021). This includes single-detached housing and multiples, which captures semi-detached housing, row housing, and apartments (and other unit types). This is the highest number of annual housing starts that we have seen over the last five years. The range for the prior years has been between roughly 209-220k.
Ontario saw 100k (~37% of the country), Quebec saw 68k (~25% of the country), and British Columbia saw 48k (~18% of the country).
What I was curious about when I first saw these numbers was the split across the various housing types. Single-family homes, for instance, came in at 82k for all of Canada. So that's about 30% of total housing starts. If you add in semi-detached and row, which I believe would also be all grade-related, you get to 124k or 46% of all housing starts.
Apartments and other unit types make up the balance at about 147k or 54% of all housing starts. This is kind of interesting because they now represent a majority.
The Canada Mortgage and Housing Corporation (CMHC) recently published its latest data on housing starts, housing under construction, and housing completions. Here are a few of the highlights:
Canada saw 271k housing starts last year (2021). This includes single-detached housing and multiples, which captures semi-detached housing, row housing, and apartments (and other unit types). This is the highest number of annual housing starts that we have seen over the last five years. The range for the prior years has been between roughly 209-220k.
Ontario saw 100k (~37% of the country), Quebec saw 68k (~25% of the country), and British Columbia saw 48k (~18% of the country).
What I was curious about when I first saw these numbers was the split across the various housing types. Single-family homes, for instance, came in at 82k for all of Canada. So that's about 30% of total housing starts. If you add in semi-detached and row, which I believe would also be all grade-related, you get to 124k or 46% of all housing starts.
Apartments and other unit types make up the balance at about 147k or 54% of all housing starts. This is kind of interesting because they now represent a majority.
Looking at Ontario, the percentage of apartments actually drops to 50%. But the numbers are much higher in both Quebec and BC at 69% and 63%, respectively. Again, this is kind of interesting.
Despite all of our deference to single-family housing, the numbers suggest that we are actually in the midst of building a different kind of country -- one that entails people living in "apartments and other unit types." Maybe it's time we got more granular with this line item.
Note: CMHC defines "apartment and other unit types" to include not just apartments, but also stacked towns, duplexes, triplexes, double duplexes (whatever this is), and row duplexes. A number of these will, of course, be grade-related. But they still represent more intense forms of land use.
There has been no shortage of prognostications about the demise of cities, offices, and a bunch of other things, as a result of this pandemic. And by now, a lot of you probably know that I think most of this is overblown. I worked in the office today, did things on my three-screen setup, and had a burrito for lunch. It was lovely. But here are a few things that I do believe will happen: Canada will continue to relax its alcohol laws in the wake of this pandemic, most if not all of these relaxations will stick after we get through this, and city life, believe it or not, will be just fine.
Earlier this month, the City of North Vancouver council voted 6-1 in favor of allowing alcohol consumption in some parks and some public spaces this summer. The mayor believes that they are the first city in BC to pass such a bylaw and I reckon that they are among the first in Canada (Quebec is generally the most chill). One of the justifications for this change is that about 80% of residents in North Vancouver live in a multi-family dwelling. And so this is a way for people, who don't have backyards, to have a civilized drink on some grass.
Will our puritanical province follow suit? My bet is yes.
Looking at Ontario, the percentage of apartments actually drops to 50%. But the numbers are much higher in both Quebec and BC at 69% and 63%, respectively. Again, this is kind of interesting.
Despite all of our deference to single-family housing, the numbers suggest that we are actually in the midst of building a different kind of country -- one that entails people living in "apartments and other unit types." Maybe it's time we got more granular with this line item.
Note: CMHC defines "apartment and other unit types" to include not just apartments, but also stacked towns, duplexes, triplexes, double duplexes (whatever this is), and row duplexes. A number of these will, of course, be grade-related. But they still represent more intense forms of land use.
There has been no shortage of prognostications about the demise of cities, offices, and a bunch of other things, as a result of this pandemic. And by now, a lot of you probably know that I think most of this is overblown. I worked in the office today, did things on my three-screen setup, and had a burrito for lunch. It was lovely. But here are a few things that I do believe will happen: Canada will continue to relax its alcohol laws in the wake of this pandemic, most if not all of these relaxations will stick after we get through this, and city life, believe it or not, will be just fine.
Earlier this month, the City of North Vancouver council voted 6-1 in favor of allowing alcohol consumption in some parks and some public spaces this summer. The mayor believes that they are the first city in BC to pass such a bylaw and I reckon that they are among the first in Canada (Quebec is generally the most chill). One of the justifications for this change is that about 80% of residents in North Vancouver live in a multi-family dwelling. And so this is a way for people, who don't have backyards, to have a civilized drink on some grass.
Will our puritanical province follow suit? My bet is yes.
These are two photos taken from the roof of our Capital Point project (office strata) in Burnaby, BC. They represent the views from about 19 storeys up. In the first photo you can see downtown Vancouver and the mountains that surround it. And in the second photo you can see the Metrotown town center (second largest in the region) and the SkyTrain station that services it. It’s certainly hard to beat British Columbia on a beautiful sunny day.
These are two photos taken from the roof of our Capital Point project (office strata) in Burnaby, BC. They represent the views from about 19 storeys up. In the first photo you can see downtown Vancouver and the mountains that surround it. And in the second photo you can see the Metrotown town center (second largest in the region) and the SkyTrain station that services it. It’s certainly hard to beat British Columbia on a beautiful sunny day.
