B.C. housing starts decline in first half of 2025, bucking national trend

Housing starts in British Columbia fell four per cent between January and July compared to the same period last year.

The data, released Tuesday from Canada Mortgage and Housing Corporation (CMHC), covers centres with a population of 10,000 or more.

There was an 11 per cent drop in starts on new single-detached homes, while all other types of housing starts fell four per cent. 

Ontario was the only other province that saw housing starts fall in the first seven months of this year, with a 25 per cent decline compared to the same period in 2024. 

CMHC uses a six-month trend measure as a complement to the monthly seasonally adjusted annual rate (SAAR) of housing starts to account for considerable swings in monthly estimates and give a clearer picture of upcoming supply.

The SAAR in B.C. fell 15 per cent from June to July, while CMHC reports a five per cent increase across all of Canada during the same period.

Compared to the same month last year, B.C.’s total housing starts were up 18 per cent in July, an increase driven by multi-unit housing.

CMHC said the six-month moving average of the SAAR across Canada rose 3.7 per cent in July.

Actual housing starts were up four per cent year-over-year, with 23,464 units recorded for the month.

“Through the first seven months of the year, actual housing starts have remained above 2024 levels, primarily driven by increased multi-unit starts in the Prairie Provinces and Québec,” said CMHC’s Deputy Chief Economist, Tania Bourassa-Ochoa. 

“These persistently elevated national results are reflective of investment decisions made months or even years ago, highlighting the influence of previous market conditions and builder sentiment on current construction trends,” she said.