Housing starts in Prince George are expected to rise this coming year.
PG’s 190 predicted housing starts falls in line with the rest of the Province, which will see an increase in housing starts between now and 2016.
The First quarter outlook for 2015 has 28,300 housing starts predicted for this year, with around 29 thousand expected for 2016. While the average price of a home in BC is forecast at around $577,700.
Market analyst Carol Frketich says that number is a decent increase, “Just to put it into perspective, last year, the MLS price in BC was $568,405, an increase of 5.8%.”
She also adds that the level of construction they are forecasting is consistent with the level of household formation from population growth, and a steady mortgage rate.
(Photo courtesy CNC).
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