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VOL. 101 NO. 65
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Joy Road home destroyed A residence on Joy Road was completely destroyed by fire Wednesday night. The incident is still under investigation. Karen Powell photo
Housing sales down across B.C.’s north AUTUMN MacDONALD Observer Reporter Housing sales were down across the Cariboo and B.C.’s North, but nothing compared to the drop in communities dependent on oil and gas, leaving realtors blaming industry for the conditions. “Although the volume of sales was down slightly across BCNREB area, in the first quarter of 2015, the regions more closely associated with the oil and
gas industry, the Northeast and North Coast experienced a more significant drop, year over year,” BC Northern Real Estate Board (BCNREB) president David Black said. “This can be attributed to the uncertainty with the long term effects of lower oil prices.” BCNREB reported 856 sales with a value of $213,161,426 through the Multiple Listing Service (MLS) in the first quarter of 2015. This compares with
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1,005 sales worth $248,635,086 to the end of March, 2014. As of March 31, there were 4,023 properties of all types available for purchase through the MLS compared to 3,625 at this time last year. Numbers in brackets represent 2014. In the Gold Pan City 28, (32) sales worth $5.1 million ($6.4 million) in the first three months of 2015. In addition to the 13 single family homes that sold, one parcel of
vacant land and eight homes on acreage have sold this year. There were 242 (225) properties of all types available for purchase through MLS as of March 31. In Williams Lake, 58 properties sold so far, compared to 64 last year at this time. Property values totalled $13.2 million ($14.4). In 100 Mile House and area, 50 properties sold, compared to 55. Property sales totalled $10.5 million ($11 million).
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In Prince George, 244 (250) properties of all types, worth $61.5 million ($62 million), have changed hands. Comparatively, in Prince Rupert, 37 properties sold (83 in 2014), totalling $8.1 million ($17.7 million last year). In Terrace, 52 properties exchanged hands (101 last year). The value of these properties totalled $12 million, compared to $23 million in 2014. “Consumers must remember that overall, the
economy of the northern half of the province is still strong and there are billions of dollars in potential developments which could benefit from lower oil costs and better availability of tradespeople,” Black said. “This, coupled with historically low interest rates, affordable housing prices and increased inventory, makes this a good time to consider making real estate investments or buying a new home in B.C’s north.”
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