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Homebuilders count on recovery
Greater Victoria housing starts more than doubled in 2010 compared with the previous year and analysts predict similar numbers in the coming year.
After the recession hit the brakes on development, housing starts slid to 1,034 in 2009. Those figures surged to 2,118 by the end of 2010, beating the 10-year average of 1,800, said Travis Archibald, senior market analyst for Canada Mortgage and Housing Corp.
"I think things are going to stay pretty similar to what we saw [in 2010]," he said. Last year "was quite a rebound year."
This year and next are expected to deliver new multi-family projects, many in the Western Communities. "If you look at just townhouses and apartments, there's quite a bit on the books," said Archibald.
Read the full article here.
Greater Victoria housing starts more than doubled in 2010 compared with the previous year and analysts predict similar numbers in the coming year.
After the recession hit the brakes on development, housing starts slid to 1,034 in 2009. Those figures surged to 2,118 by the end of 2010, beating the 10-year average of 1,800, said Travis Archibald, senior market analyst for Canada Mortgage and Housing Corp.
"I think things are going to stay pretty similar to what we saw [in 2010]," he said. Last year "was quite a rebound year."
This year and next are expected to deliver new multi-family projects, many in the Western Communities. "If you look at just townhouses and apartments, there's quite a bit on the books," said Archibald.
Read the full article here.