From GlobeNewswire: 2025-05-08 13:40:00

In 2024, there were 696 housing starts in the Cariboo’s largest municipalities, more than double the number in 2023. However, detached housing starts declined for the third consecutive year, with 157 units started. Construction of attached units like apartments and condos accounted for 77.4% of total starts.

Prince George saw the most residential construction growth, with 559 housing starts in 2024, up 176.7% from 2023. Williams Lake and Quesnel also experienced significant increases in housing starts. The shift towards higher-density housing construction is seen as a response to challenges in the construction industry.

The Cariboo’s Major Project Inventory was valued at $7.8 billion in Q3 2024, down 80.7% from the previous year due to the completion of the Trans Mountain Pipeline Expansion. Most major projects in the region are focused on public infrastructure, with limited industrial capacity projects in the near future.

The ongoing trade dispute with the United States may lead to increased tariffs on softwood lumber, impacting the forestry industry in the Cariboo region. In 2022, forestry contributed $3.6 billion in GDP and supported nearly 20,000 jobs. Supporting workers and attracting investment is crucial for increasing productivity in the industry.



Read more at GlobeNewswire: Housing starts in the Cariboo rebound, while major