- This update details the number of actively-selling, sold-out and contemplated concrete pre-sale homes by sub-market and estimated year of occupancy.
- By the end of 2019, 10,425 concrete pre-sale homes are expected to be ready for occupancy, a 42% increase from 2018 when 7,321 homes were completed.
- Of concrete pre-sale homes expected to complete between 2019 and 2023, 82% are sold.
What this means for you
Of the 39,385 concrete homes expected to complete between 2019-23, 82% have already been sold. Although sub-markets such as Abbotsford and East Vancouver have the highest percentage of homes already sold (at 91% and 88% respectively), opportunities still exist, especially in North Vancouver and in Richmond (with only 70% and 66% of homes completing by 2023, respectively, having already been sold).
In terms of contemplated concrete product, Burnaby leads the way with 30,895 potential future homes coming to market, while Coquitlam/Port Moody has the second most with 21,577. Port Coquitlam (47 homes), Pitt Meadows/Maple Ridge (397), and Langley/Cloverdale (718) have relatively few contemplated projects in the pipeline, and no concrete homes completing within the next 5 years.
Every three months, rennie intelligence provides a Concrete Multi-family Occupancy update based on the latest data sourced from Urban Analytics' NHS Live database. As part of this update, the number of concrete homes associated with actively-selling, sold-out, and contemplated multi-family projects are presented, by sub-market, and by their estimated year of first occupancy. These dates of first occupancy reflect direct estimates provided by NHS Live.
Our rennie intelligence division empowers individuals, organizations, and institutions with data-driven market insight and analysis. Experts in urban land economics, community planning, shifting demographics, and real estate trends, their strategic research supports a comprehensive advisory service offering and forms the basis of frequent reports and public presentations. Their thoughtful and objective approach truly embodies the core values of rennie.