Category: Kitmat

358 home sales tallied across Northern BC in April – My PG Now

Northern BC home sales have spiked by 24% on a year-over-year basis according to the province’s Real Estate Association.
According to its April report, 358 unit sales were recorded last month, a huge surge from the same time 12 months earlier after 288 homes changed hands.
Senior Economist, Ryan McLaughlin told Vista Radio active listings in our region also saw a climb of nearly 16%.
“More people were listing their homes and then in British Columbia, sales were a little bit on the cool end but in the north, they are doing quite well.”
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McLaughlin also expects more people to jump into the housing market in the coming months.
“Interest rates have already fallen quite a bit. If we are talking about five-year fixed rates, those rates kind of track expectations on what the bank is going to do over the next five years rather than what they have already done and, since expectations have already fallen quite a bit – the five-year fixed rates have come off their peak quite a bit already.”
The average price of a home in Northern BC currently sits at $434,772 – an 8% spike when compared to April of 2022.
Prince George is a little bit higher at over 500 grand.
Province-wide, the average home price is exactly one million.

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B.C. halts new jade mining in northwest, five-year transition for existing operations

VICTORIA — British Columbia has prohibited mining activities on new jade tenures in the northwest, while setting a five-year wind-down period for existing operators.
A statement from the Ministry of Energy and Mines says officials have been working closely with First Nations to address concerns about the effects of jade mining on sensitive alpine environments in the area near Dease Lake.
It says an order under the Environment and Land Use Act was necessary to protect the area from further harm and disturbance.
The ministry says mining activities on new tenures must stop immediately, while existing tenure holders may continue operating for five years with “enhanced regulatory requirements,” allowing them “adequate time to wind down.”
In addition to environmental harms, the ministry says jade mining has posed significant challenges when it comes to permitting, compliance and enforcement in northwestern B.C., where many sites are only accessible by helicopter.
The province says the order is limited to jade mining in that region, and it does not affect other kinds of mining or jade tenures elsewhere in B.C.
This report by The Canadian Press was first published May 10, 2024.

Read More »

358 home sales tallied across Northern BC in April – My PG Now

Northern BC home sales have spiked by 24% on a year-over-year basis according to the province’s Real Estate Association.
According to its April report, 358 unit sales were recorded last month, a huge surge from the same time 12 months earlier after 288 homes changed hands.
Senior Economist, Ryan McLaughlin told Vista Radio active listings in our region also saw a climb of nearly 16%.
“More people were listing their homes and then in British Columbia, sales were a little bit on the cool end but in the north, they are doing quite well.”
– Advertisement –

McLaughlin also expects more people to jump into the housing market in the coming months.
“Interest rates have already fallen quite a bit. If we are talking about five-year fixed rates, those rates kind of track expectations on what the bank is going to do over the next five years rather than what they have already done and, since expectations have already fallen quite a bit – the five-year fixed rates have come off their peak quite a bit already.”
The average price of a home in Northern BC currently sits at $434,772 – an 8% spike when compared to April of 2022.
Prince George is a little bit higher at over 500 grand.
Province-wide, the average home price is exactly one million.

Read More »

B.C. halts new jade mining in northwest, five-year transition for existing operations

VICTORIA — British Columbia has prohibited mining activities on new jade tenures in the northwest, while setting a five-year wind-down period for existing operators.
A statement from the Ministry of Energy and Mines says officials have been working closely with First Nations to address concerns about the effects of jade mining on sensitive alpine environments in the area near Dease Lake.
It says an order under the Environment and Land Use Act was necessary to protect the area from further harm and disturbance.
The ministry says mining activities on new tenures must stop immediately, while existing tenure holders may continue operating for five years with “enhanced regulatory requirements,” allowing them “adequate time to wind down.”
In addition to environmental harms, the ministry says jade mining has posed significant challenges when it comes to permitting, compliance and enforcement in northwestern B.C., where many sites are only accessible by helicopter.
The province says the order is limited to jade mining in that region, and it does not affect other kinds of mining or jade tenures elsewhere in B.C.
This report by The Canadian Press was first published May 10, 2024.

Read More »