Permit/Value Permit/Value Permit/Value
New DFS $16/$7.4 million $36/$19 million $33/$17.5 million
Multi New 9/$1.5 million 9/$13 million 8/$5.6 million
Commercial New NA 3/2 million 7/28.5 million
“When you invest that much in construction, in construction, you anticipate that there will be people who will buy,” says Councilor Garth Frizzell. “So the people who are creating this envision a robust market for years to come. It’s not just about responding to the housing needs report we got in December or the ones we got over the last few years. years past. It’s a constant trend.”
But the most recent employment statistics show Prince George has one of the lowest unemployment rates in the country. At 3.8%, everyone who wants to work is working. But with the upward trend in construction, there is a problem on all fronts.
“You talk to just about any trades and it’s hard to find skilled labour,” explains Allen Creuzot of Creuzot Homes & Construction. “Supply chain issues. Even just fiberglass tubs. Getting stuff like that. ICF blocks. really have to plan very differently than we did a few years ago.
Al Creuzot says the growth is constantly increasing. Despite these challenges, builders continue to build but, unlike years ago, we may be building ourselves away from home.
“As for new accommodation, as long as people are still moving here – which we’ve wanted for a long time – but be careful what you want because now we have that and our prices are getting to where people say ‘It’s unsustainable.’ How are we going to continue this?
The price of housing has risen like never before due to factors such as the cost of materials and developers scrambling to build apartments, for example, that are affordable.
“It’s a difficult concert,” says Creuzot. Because at the end of the day, you’re in business to be in business. So you have to make money. People say the rents are out of this world. How can you justify this? Well, if you were on the other side of the coin and you had to pay interest and everything else, which is what happens in the construction of a building of fifty or seventy units, there is an awful lot of things.
However, the City is anticipating another record year for permits and the value of permits will continue to rise.