Recent data shows that the housing boom across Greater Vancouver is continuing to reach new heights with a huge amount of new construction now underway. As of February 2017, new construction was up by 30 percent year-over-year.
The Greater Vancouver area is about to see a large amount of new supply on the market – 2017 has a projected 23,575 housing starts. Housing starts are currently seeing a slowdown in their completion rates – whether due to intentional slowing, lack of resources, or for other reasons.
With the number of starts compounding, a huge amount of supply is going to soon be hitting the Greater Vancouver market – news which will come as a relief to many.
Are you awaiting new starts to come underway in order to get into the market? Share your thoughts with us below!