By Ian Holmes

Home construction numbers above 5 year average

Jun 10, 2016 | 8:20 AM

New home construction numbers in Nanaimo are off last year’s red hot pace, but activity should pick up.

The Canada Mortgage and Housing Corporation’s Aida Niavarani-Zadeh reports 319 new residential builds in Nanaimo this year, up until the end of May.

Last year’s pace in Nanaimo was 407 for that same time period.

However, she expects last year’s extremely high annual build count of 850 will be met.

“In terms of pace of construction, we are expecting the level to be similar to last year, so still a strong pace of new home construction,” said Niavarani-Zadeh.

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Niavarani-Zadeh says residential construction so far this year in Nanaimo is about 15 percent above the five-year average.