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New-housing construction is expected to decline for the next two years according to the report prepared by the research firm Altus Group. The decrease is influenced by the higher interest rates, new tax measures and a slowing economy.
According to Vancouver Sun the report estimates that housing starts in B.C. will fall to 37,475 units in 2019 and further to 36,925 in 2020 compared with 2018’s 40,875 units.
Read a full article about the results of Altus report and a housing forecast here.