Courtenay Annual Report 2025 draft

Construction activity Construction activity in Courtenay moderated in 2025 following a significant increase in residential completions the previous year. A total of 174 net new residential units were completed and ready for occupancy, down from 625 units in 2024, reflecting the completion of several large projects in the prior year. Despite fewer completions, development activity remained strong. In 2025, 336 residential units were approved for construction — more than double the 160 approvals issued in 2024 — indicating continued momentum in the housing development pipeline.

Over the past five years, Courtenay has averaged 372 completed residential units annually. Local housing growth continues to exceed Regional Growth Strategy targets, reflecting faster-than-expected population growth. Between 2011 and 2021, Courtenay experienced an average annual population increase of 2.1 per cent, reinforcing the ongoing demand for new housing across the community.

Construction activity

2021

2022

2023

2024

2025

Subdivision lots approved

95

18

72

23

6

Total residential units issued

336

143

738*

160

336

Building inspections completed

4,635

3,610

2,372

1,613

1,101

*The higher 2023 number reflects a greater number of multi-residential permits issued that year

Net new housing units

2021

2022

2023

2024

2025

ann. avg.

Single detached

121

76

55

41

37

66

Attached secondary

30

10

15

14

12

16

Detached secondary

4

4

8

1

3

4

Duplex/semi detached

14

12

4

22

6

12

Townhouse

27

47

34

56

4

34

Apartment

247

289*

64

491

112

241

Total

443

438*

180

625

174

372

*Excludes 126 care home and hospice units

Palace Place, 5th Street and England Avenue

28 | City of Courtenay