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Grande Prairie housing starts and value of construction continue to drop

Housing starts in Grande Prairie continue to fall behind 2013 numbers.

There were 53 single and multiple family housing starts in May, compared to 86 a year ago.

Year-to-date, those numbers are even worse, at a total of 110 so far in 2014, versus 246 at this point last year.

The biggest drop is being seen in multi-family homes, as only eight were started last month, compared to 26 in May 2013.

 

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Building permits are almost on par with last year, as 479 have been issued so far this year, only five less than at this point last year.

However, the value of construction is falling behind, as we had passed the 100-million dollar point already last May.

479 permits have been worth $94.3 million so far, while 484 were worth $106.7 million after the first five months of 2013.

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