Province Says New Construction Values Off the Charts!

By 250 News

The Provincial Government says the assessed value of new construction starts in 2006, set a new record in B.C.

In 2006, the starts carried an assessed value of $19.5 billion dollars, that is a 55 % increase over assessed value of construction starts in 2005.

Here are some of the 250 areas showing gains:

• Prince George: $146 million, up 57.9 per cent.
• Okanagan (including Vernon, Penticton, Kelowna): $2.66 billion, up
  56.2 per cent.
• Peace River: $317 million, up 6.4 per cent.
• Kamloops Region: $513 million, up 139.4 per cent.

The new record smashes the $12.4 billion in new construction on the 2006 assessment.

The total value of British Columbia property has also hit a record high of $808 billion, according to the 2007 assessment roll. That is 23% hike over the 2006 mark of $658 billion.  

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