Housing starts down drastically in BC Peace despite strong capital investment in region

Mar 31, 2023 | 3:13 PM

Housing starts in Dawson Creek and Fort St John were down drastically in 2022 when compared to the previous year.

According to an annual report by the Chartered Professional Accountants of BC on investment trends across the province, construction started on 63 new housing units in the two BC Peace cities throughout the entire year.

That is a 44.2 per cent decrease from 2021 numbers, figures that the CPABC says represent the lowest levels of activity in the past two decades.

The numbers were also down significantly from the five-year average of 109 units per year between 2016 and 2020.

However, Ben Sander from the accounting firm of Sander Rose Bone Grindle says the decline corresponded with low housing growth and declining housing demand across the region.

He adds while housing investment in the BC Peace is low at this time, investment in major capital projects remains high.

In the third quarter of 2022, there were 10 major capital projects under construction worth a combined $23 billion, highlighted by the $16 billion Site C Dam project near Fort St John.

The report also showed an additional 23 major capital projects were proposed at that time, worth an additional $14.7 billion.

by Jeff Henson