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Grande Prairie on pace for second lowest housing starts in a decade

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For the second month in a row, housing starts in Grande Prairie have increased at the same rate as in 2017. There were a total of 27 new starts in October, up one from 2016.

Construction began on 17 single family homes and 10 multi family homes in the city last month. That brings the year-to-date total to 178, down just under 13 per cent from last year’s pace with just two months left in the year.

In a report on the city’s housing market released last week, the Canada Mortgage and Housing Corporation predicted the housing starts for 2017 would be the second lowest in the last 10 years. Less than 55 multi-family starts are expected, which is driving the drop, while single-family starts have increased by more than 50 per cent so far.

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