Housing Starts Positive for P.G.
Thursday, August 9, 2012 @ 9:19 AM
Prince George, B.C.- Housing starts in Prince George are well over last year’s mark for this point in the year.
According to Canada Mortgage and Housing, the year to date increase in starts ( single detached and multiples) is 46%. Only Chilliwack , with an increase of 86%, recorded a better percentage.
In many of the BC communities charted by CMHC, the year to date mark is negative.
When it comes to just the month of July, only Prince George and Chilliwack recorded increased starts with Kelowna down 53%, Kamloops down 67%, Vernon ’s starts were -27%.
Province wide, Carol Frketich, CMHC’s BC Regional Economist says housing starts in the province are returning to the 5 year average for July.
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Comments
Scotia Bank believes there will be a 10% drop in house prices in the near future….good luck selling all those new homes your building.
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