Multi-family Project Occupancy Update - Q3 2018
Sep 27, 2018
Written by
Ryan BerlinSHARE THIS
Each quarter, rennie Intelligence provides a Multi-family Occupancy Update based on the latest data sourced from Urban Analytics' NHS Live database. As part of this update, the number of homes associated with actively-selling, sold-out, and contemplated multi-family projects are presented, by sub-market, by their estimated year of first occupancy. These dates of first occupancy reflect both direct estimates provided by NHS Live and derived estimates generated by rennie.
Data highlights
- By the end of 2018, 17,169 multi-family homes are expected to be ready for occupancy, representing a 49% increase from 2017. when 11,549 homes completed. Currently. 14,244 multi-family homes are under construction and expected to compete in 2019.
- Of the home completed between 2018 and 2022, 91% are sold.
What this means for youWhile there are certainly options to buy pre-sale, multi-family homes for those looking to move in before 2022, new supply is needed in the medium-term to accommodate continued growth and change in the region's population.
Written by
Related
Annual sales in the Central Okanagan declined for the third consecutive year in 2024, though a string of relatively stronger months to close the year has the market heading into the new year with some new momentum.
Jan 2025
Report
The Vancouver Region closed 2024 with another month of relatively strong sales activity. There were 2,684 MLS sales in December, a 28% increase from the prior December (2,097 sales) and the most for the month of December since 2021 (4,372 sales).
Jan 2025
Report