Construction values in Sidney almost totalled $75 million in 2020, according to the draft annual report before Sidney council. (Black Press Media File)

Construction values in Sidney almost totalled $75 million in 2020, according to the draft annual report before Sidney council. (Black Press Media File)

Value of 2020 residential construction in Sidney close to $75 million

Figures in town’s annual report show significant upward trend in recent years

A total of 239 new housing units were added in Sidney in 2020, with multi-family developments accounting for 210 units and construction values totalling almost $75 million.

According to the Town of Sidney’s draft annual report, that figure is nearly triple the 20-year annual average of just under $27.2 million.

The report illustrated an upward trend in housing starts in recent years.

In 2019, new construction in Sidney totalled 186 units with multi-family developments accounting for 158 of those. Construction values that year topped just over $50 million. In 2018, 111 new units were built – 72 in multi-family buildings – with a total value just under $40 million.

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

This growth appears visible across the community, especially in the downtown core, where several new developments remain under construction or approach completion.

Overall, the latest census (2016) shows Sidney with 5,960 private dwellings and an overall population of 11,672. Just over three out of four householders own their homes (76 per cent) while the rest rent.

Sidney’s median income per household was $63,840 while the median age of the community was 59.8.

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


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wolfgang.depner@peninsulanewsreview.com

developmentSaanich PeninsulaSidney