News

Housing market growth predicted

The B.C. housing market will see slow but steady growth over the next three years, according to a forecast by Central 1 Credit Union.

The trade association for B.C. and Ontario credit unions predicts the number of sales will rise about seven per cent to 72,500 in 2014, and reach 84,000 by 2016. The median resale price is forecast to increase 1.5 per cent in 2014, 2.5 per cent in 2015 and three per cent in 2016.

New home sales are expected to rebound by about 30 per cent in 2014, but remain at a low level of 15,500 units sold, said Central 1 economist Brian Yu.

New construction in the Lower Mainland Southwest region is expected to decline slightly due to high inventory, while housing starts are forecast to rise in most other areas of the province.

 

 

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

Green MLA Weaver to seek leadership
 
Vipers hold off Cents
 
Police seek help in series of robberies
Police look for help in identifying robbery suspect
 
Vernon’s ‘pie girl’ hopes to be next MasterChef
 
Vernon soccer sixpack selected for B.C. Soccer program
Castlegar RCMP welcome assistance in finding Russell David Sapriken
 
DeHart: New retail pharmacy all about living healthy lifestyle
 
YPR terminal upgrades scheduled for summer completion

Community Events, January 2015

Add an Event

Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Jan 28 edition online now. Browse the archives.