Clear Full Forecast

Year to Date Number of Building Permits Down

By 250 News

Tuesday, September 15, 2009 03:58 AM

Prince George, B.C. –  Housing starts for 2009 in Prince George are about half of what they were during the same period in 2008. Last year at this time there had been  80 single family dwelling permits valued at $19.3 million dollars.  This year, there have been  40 such permits issued, with a value of $10.2 million.
 
Renovations  are on track.  This year,  there have been  150 permits with a value of $3.09 million issued, compared to the end of August 2008 when there had been 169 permits for renos or alterations issued valued at $3.18 million.  There have actually been more renovation permits in August of 2009 (30) compared to the same month a year ago (28). "August is certainly better than previous months" says Grant Bain of the City's Planning Department, although July numbers were much the same, but August certainly looks like a turnaround.".
 
The most expensive project for which a permit was issued in August was the Hub City Motors new two storey building on Queensway. That building permit was issued for a project value of just over $1.6 million dollars.
 
Here are some of the other highlights from August:
  •  2500 Vance Road, Façade improvements and interior renovations, Boston Pizza, $250,000.
  •  795 555 Central Street, Renovations, Spruceland Mall, $1,058,900.
  •  3333 8th Avenue, Interior Renovations,  So Good Restaurant, $200,000.
  •  4150 Cowart Road, Addition, RONA / Capital Building Supplies, $930,000.
  •  7 Single Family Dwellings, $ 1,591,310.00

 There was also a Commercial Development Permit issued for the Wood Wheaton dealership on Highway 16 West. That is to develop a 557.5 square metre addition to the dealership.


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Comments

This headline does not surprise me.

"Nearly 60 per cent of Canadians would have trouble paying the bills if their paycheque were delayed by one week, a nationwide survey suggests.

The Canadian Payroll Association survey released Monday found that not only were 59 per cent of respondents living paycheque to paycheque, but they had little ability to put money away for their retirement.

"We were shocked by that number," CPA chairman Janice MacLellan said. "So many Canadians are now living so close to the line that if they miss a single paycheque, the majority will find themselves in financial difficulty."

http://www.cbc.ca/money/story/2009/09/14/payday-to-payday-problems.html
If this is the case then why
http://www.opinion250.com/blog/view/13968/1/home+sales+up+in+b.c.?id=143&st=40

It seems that each month the BCREA comes out with a rosy forecast and positive results. Even when the brown hit fan they had a positive spin.

I have more faith in the reporting of permits than in the BCREA painting an accurate picture of the real estate market.
Rather than statistics, I'm just keeping an eye on that good ol' Tyner Estates subdivision.
Re: Tyner -- The city should demolish those two half-finished houses, or make the property owners pay fot it. They are disgusting to look at day after day.