Home construction dipsJanuary 14, 2016 12:17 am
Softer demand for new single-family homes resulted in a construction drop in Kelowna in 2015.
Last year in the city, construction started on 1,280 homes of all kinds – single-family, condominiums and townhouses.
That’s a slight decline from the 1,311 starts in 2014, according to year-end figures from Canada Mortgage & Housing Corporation.
Breaking down the numbers, single-family starts slipped from 695 in 2014 to 628 in 2015.
In the multiples category, the name given to condos and townhouses, starts climbed from 616 in 2014 to 652 last year.
The average price of a new single-family home is an expensive $700,000.
Categorized in: The Daily Courier