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Grande Prairie housing starts drop by more than half

New home construction slowed down by more than 50 per cent last year. By the end of December, there were 357 housing starts, compared to 732 in 2014.

The biggest drop came in single-family homes, of which only 107 were built. That’s 25 per cent of what was seen the year before. There were 8 of them started in December, along with six multi-families homes, down from a total of 75 a year earlier.

Edmonton also saw a drop, which the Canadian Mortgage and Housing Corporation blames on slower employment growth, lower migration and a relatively high number of homes listed for resale.

In the County of Grande Prairie, numbers dropped to 77 per cent of 2014’s construction.

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