According to Statistics Canada, new housing starts and value of building permits in Greater Victoria rose in January 2021 compared to January 2020. (Black Press Media File)

According to Statistics Canada, new housing starts and value of building permits in Greater Victoria rose in January 2021 compared to January 2020. (Black Press Media File)

New housing starts, value of building permits up in Greater Victoria

Cost of new housing also rising in region, now in excess of $1.15 million for a new detached home

New figures continue to show that construction is booming in Greater Victoria.

Figures for Victoria Census Metropolitan Area (CMA) show the value of issued building permits rose by 41.3 per cent in January 2021 compared to January 2020, with the total value in excess of $143 million.

Other figures also capture this boom. Canada Mortgage and Housing Corporation (CMHC) reported 216 new housing starts in January 2021, compared to 46 in January 2020, a year-over-year increase of almost 370 per cent.

RELATED: Value of building permits up 46 per cent in Sidney through 2020

Looking at prices, the average price for a detached house entering the market in January 2021 is $1.15 million, up from $1.04 million. This increase appears in Greater Victoria’s new housing price index measuring changes over time in the contractors’ selling prices of new residential houses. It has reached 107.8 (starting from a base of 100 as of December 2016) in January 2021, an uptick of 5.9 per cent.

These regional figures run counter to some of the provincial figures, which show that the total value of issued building permits in British Columbia dropped by almost 43 per cent in January 2021 compared to January 2020.

Year-over-year, the total value of issued building permits in Canada rose by almost 21 per cent.


Do you have a story tip? Email: vnc.editorial@blackpress.ca.

Follow us on Twitter and Instagram, and like us on Facebook.

wolfgang.depner@peninsulanewsreview.com

Just Posted

An armed officer walks outside Cerwydden Care on Cowichan Lake Road near Skinner Road Wednesday, April 14 around 5:30 p.m.
Demonstrators at the legislature on April 14 called on the province to decriminalize drug possession and provide widespread access to regulated safe supply across B.C. (Jake Romphf/News Staff)
Rally calls for decriminalization, safe supply as overdose emergency turns 5

From 2016 to the end of February, 7,072 British Columbians died due to overdose

City workers from Duncan were busy recently putting up street signs in both Hul’q’umi’num’ and English. (Submitted photo)
Hul’q’umi’num street signs installed in downtown Duncan

Partnership with Cowichan Tribes sees English street names twinned with Indigenous language

A Sooke man died Tuesday afternoon after his car left the roadway in 7500-block of West Coast Road around 1:30 p.m. and hit a tree. (Black Press Media file photo)
Sooke man dies in Tuesday crash on West Coast Road

The man’s SUV left the roadway and struck a tree

Homicide investigators who asked not to be identified put up signs Wednesday, April 14, along the Nanaimo Parkway in the area where a body was found March 31. RCMP are asking for witnesses or dash cam footage as the suspicious death has now been ruled a homicide. (Chris Bush/News Bulletin)
Suspicious death along Nanaimo Parkway now being investigated as a homicide

RCMP identify victim as Randell Charles Thomas, repeat call for any information related to the case

Nanaimo Regional General Hospital. (News Bulletin file photo)
Nanaimo hospital experiencing another COVID-19 outbreak

Three patients tested positive for the virus in NRGH’s high-intensity rehab unit

(Government of Canada)
Liberal MP caught stark naked during House of Commons video conference

William Amos, in Quebec, appeared on the screens of his fellow members of Parliament completely naked

Provincial health officer Dr. Bonnie Henry updates B.C.’s COVID-19 situation at the B.C. legislature, Feb. 1, 2020. (B.C. government)
B.C.’s COVID-19 case count jumps to 1,168 Wednesday, nearly 400 in hospital

Now 120 coronavirus patients in intensive care, six more deaths

Moss covered branches are seen in the Avatar Old Growth Forest near Port Renfrew on Vancouver Island, B.C. Thursday, Sept. 29, 2011. THE CANADIAN PRESS/Jonathan Hayward
B.C. blockades aimed at protecting old-growth forests reveal First Nation split

Two Pacheedaht chiefs say they’re ‘concerned about the increasing polarization over forestry activities’ in the territory

Richmond RCMP Chief Superintendent Will Ng said, in March, the force received a stand-out number of seven reports of incidents that appeared to have “racial undertones.” (Phil McLachlan/Capital News)
‘Racially motivated’ incidents on the rise in B.C’s 4th largest city: police

Three incidents in Richmond are currently being invested as hate crimes, says RCMP Chief Superintendent Will Ng

A still from the video taken of a violent arrest on May 30, 2020 in downtown Kelowna. (File)
Kelowna Mountie charged with assault for caught-on-camera violent arrest

Const. Siggy Pietrzak was filmed punching a suspected impaired driver at least 10 times during an arrest

Fish processing workers fillet farm-raised salmon in Surrey B.C. Photo courtesy BCSFA
Discovery Islands salmon farm removal impacts jobs in B.C.’s Lower Mainland: report

The City of Surrey is the hub of the salmon farming industry in Metro Vancouver

Health Canada headquarters in Ottawa. (Sean Kilpatrick/The Canadian Press)
Health Canada releases guidelines for reducing COVID-19 transmission at home

Improve indoor air quality by opening up your windows and doors, among the encouraged ventilation measures

Most Read