Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

January 11, 2005 08:15 ET

Canada Mortgage and Housing Corporation: 2004 Prince George Housing Starts Highest in 6 Years


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CANADA MORTGAGE AND HOUSING CORPORATION

JANUARY 11, 2005 - 08:15 ET

Canada Mortgage and Housing Corporation: 2004 Prince
George Housing Starts Highest in 6 Years

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 11, 2005) - Canada
Mortgage and Housing Corporation (CMHC) figures indicate that housing
starts in the Prince George CA increased 88 per cent in the fourth
quarter of 2004 compared to the same quarter of 2003. There were 45
single-detached homes started. On an annual basis, 195 new homes were
started in the Prince George CA, compared to 103 in 2003.

"2004 was the best year for housing starts in the Prince George CA since
1998." said Christie Butchart, Market Analyst. "Strong employment, low
mortgage interest rates and high consumer confidence were key drivers of
the housing market last year."

"Overall, employment increased 7 per cent in Prince George during 2004,
adding 2,600 jobs to the economy. These improving labour market
conditions helped support housing last year and will continue to do so
in 2005," added Butchart.

Across the province, 2004 urban housing starts in B.C. increased 25 per
cent to 30,884 units compared to 2003. Single detached housing starts
grew by 12 per cent while new multiple unit construction climbed 36 per
cent over 2003 levels.

CMHC is Canada's housing agency. The BC & Yukon Regional Business Centre
produces a variety of reports which highlight trends in the new and
resale housing markets.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Canada Mortgage and Housing Corporation
    Christie Butchart
    Market Analyst
    (604) 737-4052
    Email: cbutchar@cmhc-schl.gc.ca
    or
    Canada Mortgage and Housing Corporation
    Cameron Muir
    Senior Market Analyst - Vancouver Contact
    (604) 737-4144
    Email: cmuir@cmhc-schl.gc.ca
    or
    Canada Mortgage and Housing Corporation
    Peggy Prill
    Market Analyst - Victoria / Vancouver Island Contact
    Cell: (250) 360-7322
    Email: pprill@cmhc-schl.gc.ca
    or
    Canada Mortgage and Housing Corporation
    Paul Fabri
    Market Analyst - BC Southern Interior Contact
    (250) 712-4334
    Email: pfabri@cmhc-schl.gc.ca
    Website: www.cmhc.ca