LETHBRIDGE – Despite falling oil prices, the housing market in Lethbridge is going strong. According to the Canadian Home Builders’ Association, the bulk of the new housing starts are happening on the west side of Lethbridge, but all areas of the city are seeing new construction.
“There is some on the north and south as well, but most new ones are on the west side,” Angela Zuba, executive director of the Canadian Home Builders’ Association, said.
The Canada Mortgage and Housing Corporation said 833 homes were started in Lethbridge last year, up from 676 in 2014. This number also includes Coaldale and Coalhurst, and smaller communities within Lethbridge County. It’s good news compared to significant drops in Calgary, Red Deer and Grand Prairie.
“We saw a really good increase this year,” Zuba said. "We have had our best year in housing increases since 2009."
Zuba said Lethbridge has a strong industrial and agricultural sector, giving its housing industry some protection.
“Lethbridge historically has been its own centre in the province, and that’s contributed primarily to how diverse our business economy is here.”
Looking ahead, the Canadian Home Builders’ Association is predicting a modest 2016.
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