Kelowna Housing Starts Surge 34% in Q1 2026
Key Takeaways
New housing starts across the Central Okanagan reached their highest quarterly level since 2019, according to data released by Canada Mortgage and Housing Corporation (CMHC). A total of 1,240 units broke ground in Q1 2026, a 34 percent increase compared to the same period last year.
Multi-family leading the way
Roughly 78 percent of new starts were multi-family units -- townhomes, duplexes, and low-rise apartments. The City of Kelowna's updated zoning bylaws, which took effect in late 2025, appear to be accelerating density along transit corridors.
What it means for buyers
More supply generally eases price pressure, but many of these units won't hit the market until late 2027. In the short term, demand for resale homes in established neighbourhoods remains strong, and well-priced listings continue to attract multiple offers.
What it means for sellers
If you're considering selling a home near a future development zone, the increased activity can be a double-edged sword. On one hand, neighbourhood investment signals confidence; on the other, future supply may temper long-term appreciation. A well-timed listing strategy is key.
This article summarizes publicly available data and reporting. Consult a licensed realtor for advice specific to your situation.
This article summarizes reporting from Storeys. Read the full piece at Storeys.
Disclaimer: This summary is generated with the assistance of AI and reviewed by our team. While we strive for accuracy, it is not a substitute for reading the original source material. The content does not constitute professional advice. If you believe something is inaccurate, please let us know.
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