The number of housing starts in Prince George is expected to rise this year after some slow times last year.
After 2014 did not see as many multi-family structures being built, Market Analyst Serena Teakles with the Canada Mortgage and Housing corporation says around 190 housing starts are expected for this year, and also spoke about the trends predicted for the average price of a home in Prince George:
“Our forecast going forward given the strength in the re-sell market is for it to continue to increase for 2015 at a rate of 2% so for it to hit $277,000 and in 2016 to go up about 3% to $285,000”
Teakles says one large factor contributing to the increase is Prince George’s unemployment rate, which remained steady at 5.1% in 2013 and 2014.
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