It was a slow month for new housing construction in Prince George.
The Canadian Mortgage and Housing Corporation is reporting only 8 new projects broke ground in October, compared to 23 in the same month last year. However, the monthly numbers can be deceiving.
“If you look at the year-to-date figures, it shows that new construction for both single-detached and multi-family units is up substantially over 2014” said Senior Market Analyst Taylor Pardy.
209 new projects have started construction in the Prince George this year, nearly doubling the 118 new units that were underway at this time last year.
It’s all part of an upward trend in the province.
“Year-to-date figures for BC show that overall starts have increased approximately 13 percent relative to the same 10 month period last year” said Pardy.
73 new multi-family units have begun construction this year, which is 5 times the number from 2014.
Something going on in the Prince George area you think people should know about?
Send us a news tip by emailing [email protected].
