Housing Starts in P.G. Drop

Tuesday, September 09, 2008 09:45 AM

Prince George, B.C.- Canada Mortgage and Housing is reporting housing starts in the lower mainland, especially Abbotsford, remained strong last month, but such was not the case in Prince George.

According to CMHC, starts of single detached homes in August were down 46.4% compared to the same month last year,and there was no change in starts for multiple family homes ( zero in August of '08 and '07).

Year to date figures are also down. A drop of 45.3% in single detached homes and an increase of 50.% for multiple family units for an overall year to date decline of 36%.

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Posted on Tuesday, September 09, 2008 09:45 AM in News by 250 News

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Comments

Posted by: MrPG on September 9 2008 9:52 AM

The numbers are hard to read, but this is no surprise considering the number of houses for sale in this town. Why build?

Posted by: Bridge on September 9 2008 10:02 AM

All these new devlopments that are being purposed are just so much pie in the sky. I guess it keeps our council busy and feeling good.

Cheers

Posted by: Harbinger on September 9 2008 10:06 AM

With the number of vacant lots in all our present and potential subdivisions (I won't mention Tyner Blvd), when housing starts pick up again (as they will one day) I don't see a problem. Paying a mortgage on vacant land for a while kinda sucks but it is kinda the risk ya get when yer an optomistic developer. Oh well.