Housing in BC’s North is affordable.
This from the BC Northern Real Estate Board who released the results from their 2014 housing affordability study.
Vice President of the BCNREB David Black says while the cost of a home has risen slightly, we still continue to sit much lower than the Provincial average:
“Over the past year, the average house price in Prince George has gone up 4.6% [and] the average house price is about $273,321. I think that compared to BC we are still around half the average price of a home in British Columbia”
Black says a number of factors contribute to the affordability including Prince George’s rental rates, which sees more people contemplating the negligible difference between owning and renting.
He says Prince George sees around 30% of household income going to the cost of a home, while in comparison, a location like Vancouver or Victoria is potentially between 60 to 80%.