Real Estate and Development Markets Hot Hot Hot!!!

Thursday, June 15, 2006 03:59 AM

The housing market is hot, the building market is hot, with both the City and the Regional District recording gains last month.

For the City, development permit values are up because of a couple of significant projects including the $30.5 million dollar Sport Centre and the new liquor store slated for the Pine Centre Mall site.

For the Regional District, there were 31 more building permits issued in May than in the same month a year ago.

Sales of property and homes are on a high as well, with the Northern B.C. Real Estate Board saying May was a record month for total sales of all properties in the region that stretches from 70 Mile house, to Fort Nelson, Valemount to Prince Rupert. The Real Estate Board is still crunching numbers and hopes to have the complete picture ready later this week.

On a national scene, the MLS average house price in Canada topped $300,000 in May, that’s a first. The Canadian Real Estate Association says all major markets in the Country continued to soar with sales up 4.4 percent over the previous record which was set in May of last year.

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Posted on Thursday, June 15, 2006 03:59 AM in News by 250 News

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Comments

Posted by: Free Enterprise on June 15 2006 8:17 AM

Now if the City of PG would just become developer friendly we would have it made. I know they get mad when we say that but when you can't see the forest for the trees you miss the big picture. Doing business with the city is poor poor poor.