“We appear to have reached the bottom.”
That’s what Prince George City Councillor Garth Frizzell had to say about October’s building permit numbers in Prince George.
In October, the City issued 45 building permits worth a combined total of $19.1 million.
However, Frizzell said that’s a good place to be because it can only go upward.
“We hear that interest rates may not be going upwards because inflation is starting to get curbed and other countries have already stopped increasing their interest rates,” he continued.
“Still, building in the North, November, December, January, February, I know those numbers aren’t going to be going up anytime soon.”
Director of Development Deanna Wasnik said Administration remains positive.
“We’re hoping with the demands that have been noted in housing needs studies, this is provincial-wide but also in Prince George, that with funding or grant we’ll be able to help kickstart some housing developments,” said
“I’m unsure what to say for next year, but hopefully these numbers can hit on that upward trend.”
As of the end of October, the City has issued a total of 352 building permits worth a combined total of $146.4 million.
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