The latest CMHC report shows Langford continues leading in the CRD for housing starts, supply and affordability. Their starts are up 17% over last year at 734. Colwood is up 193% at 179. On the other hand, Victoria is down 39%, Saanich is down 27%, Central Saanich is down 44%. Highlands and Metchosin combined have built only 16 homes, one more than last month. CMHC’s market assessment says Greater Victoria has a supply problem creating high prices. It’s time for municipalities other than Langford to step up.
The CMHC housing starts report is here.