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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

My FED Farm, created by Food Eco District (FED), is aiming to help people affected by the COVID-19 grow food in their own back yard. The program is in collaboration with Sooke Region Food CHI, Transition Sooke and the Sooke Garden Club. (File - Black Press Media)
Sooke backyard food program returns

The Sooke Backyard Food Program is returning for a second year. Sooke… Continue reading

Father Marinaldo Batista, who served at Catholic parishes in Saanich and Sooke, died April 1 in Brazil from complications of COVID-19. (Facebook/St. Elizabeth Church)
Brazilian priest who served in Saanich and Sooke dies from COVID-19

Father Marinaldo Batista, 53, went to Brazil to visit his parents and died there April 1

Colwood resident Maria Curcic shows off a one-of-a-kind hat that she created. Curcic is one of several artists that took part in the annual Stinking Fish Studio Tour. (Contributed - Maria Curcic)
Curtain closes on Stinking Fish Studio Tour

The Stinking Fish Studio Tour will live on through the lasting legacy… Continue reading

Colwood restaurants can use city property for patios. (Black Press Media file photo)
Temporary patios back on for Colwood restaurants

Council voted to extend temporary permits to 2022

A photograph of the real firearm beside the replica firearm seized by VicPD in the early hours of April 18. (Courtesy VicPD)
Police seize loaded firearm, drugs during traffic stop in Victoria

Officers find cocaine, methamphetamine and fentanyl along with loaded handgun

Public health restrictions on non-essential travel and vacation bookings are being increased in B.C. (B.C. government)
Out-of-region B.C. vacation bookings, RV ferry reservations to be refused, Horgan says

B.C. extends COVID-19 indoor dining, group fitness ban until May 25

(New Westminster Police)
4 youth arrested after 30-person brawl in New Westminster leaves 1 seriously injured

Police are looking for witnesses who saw the incident take place

South Surrey’s Paul Cottrell, who works with the DFO, tows a grey whale out of Semiahmoo Bay Sunday. (Contributed photo)
Dead whale floating near White Rock towed to shore for necropsy

Animal has been dead since at least April 15

Wickaninnish (Clifford Atleo) plays the drum while singing the Nuu-chah-nulth song on the court steps in Vancouver In a picture from April 2018. Photo credit, Melody Charlie.
Five western Vancouver Island First Nations celebrate legal fishing victory

Court ruling confirms Nuu-chah-nulth fishing rights in case dating back to 2003

Sunday’s storm rocked one of the ferries crossing Kootenay Lake. Photo: Dirk Jonker
VIDEO: Storm makes for wild ferry ride across Kootenay Lake

The video was captured by ferry employee Dirk Jonker

Dr. Bonnie Henry gives her daily media briefing regarding Covid-19 for the province of British Columbia in Victoria, B.C, Monday, December 7, 2020. THE CANADIAN PRESS/Jonathan Hayward
BREAKING: Toddler marks youngest British Columbian to die related to COVID-19

Child one of eight people to die from virus this weekend

Chakalaka Bar & Grill remains open in defiance of orders from Island Health to close. (Cole Schisler photo)
Island Health seeks injunction against restaurant defying COVID-19 orders

VIHA says Ladysmith-area Chakalaka Bar and Grill also violating water and sewer regulations

Pharmacist Barbara Violo arranges all the empty vials of the Oxford-AstraZeneca COVID-19 vaccines that she has provided to customers at the Junction Chemist which is a independent pharmacy during the COVID-19 pandemic in Toronto, on Monday, April 19, 2021. THE CANADIAN PRESS/Nathan Denette
B.C. to open up AstraZeneca vaccines for all people 40+, set up clinics in hot spots

A total of 13 neighbourhoods and communities will receive the AstraZeneca vaccine

Most Read