Residential Construction in the Cities of West Kelowna and Kelowna on Track for Record Setting Year

Residential Construction in the Cities of West Kelowna and Kelowna on Track for Record Setting Year

First Six Months of 2017 – Okanagan Community Interactive Residential Permitted Housing Unit Trends Report

Forward: See the above slide show for a visual representation of the trends discussed in this article.

 

In the first six months of 2017 the number of new residential housing unit starts in the cities of West Kelowna and Kelowna nearly surpassed their 2016 levels – a previous record setting year for new residential construction.

Naturally, the collective value of residential permits across Central and North Okanagan communities is off to a strong start in 2017 by comparison to recent years, totaling $429,551,883 in the first six months.

Notably, the upticks in the cities of West Kelowna and Kelowna’s new residential construction markets continues to be influenced by increases in the construction of housing products outside of the traditional family home market – this includes apartment condos, apartment rentals and senior living apartment facilities.

In other Central and North Okanagan communities both the number of and value of permitted housing units remained relatively consistent with previous quarters but strong in 2017 by historical comparisons.

 

Want to find out the value of new residential construction investment that took place in your own (or any) Okanagan neighbourhood in the first half of 2017? Check out the following interactive map!

 

Central and North Okanagan Residential Permit Values Neighbourhood Interactive Map: 2017TD(June)

Disclaimer: Although the data analyzed have been produced and processed from sources believed to be reliable, no warranty expressed or implied is made regarding accuracy, adequacy, completeness, legality, reliability or usefulness of this articles information.

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