Thursday, March 29, 2007
Downtown condo supply, 1989-2006
Here's a nifty graphic from the City of Vancouver. This shows the amount of condo construction going on in the downtown peninsula. Data is as of Dec 31, 2006, with estimates for 2007-2009. Interesting how we're breaking previous construction records, even with our low population growth.
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3 comments:
The latest census had what, 65% of Vancouver's pop growth coming from downtown? That would explain the record number... although I'm not going to say its sustainable.
The nearly 3300 units for 2007 is probably a bit optimistic. Do you happen to have VHB's old chart of estimates vs. completion?
I'm looking to buy downtown in the future, so bring on the supply glut!
This is from VHB's data.
2007
Completed = 439
Under construction = 3850
2008
Under Construction = 2784
2009
Under Construction = 1440
it would be interesting to see what it is for other cities. i think for somewhere like richmond, the stuff coming up in the next 3 years will almost double what was existing before this bubble! (20 or so towers coming up). i think burnaby may be similar too.
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