Business

Construction and prices of single family homes is up in Langley

Construction of single family homes in Langley Township is picking up, the latest development indicators show.

A report by Township economic development manager Gary MacKinnon shows construction of single detached houses in 2013 was 12.6 per cent higher than it was in 2012.

The average price for a detached house rose 2.4 per cent to $554,633.

Townhouses and apartments were a different story.

Construction of apartments was down 24.3 per cent in 2013 compared to 2012, while townhouse construction fell 12.5 per cent.

Townhouse prices were down 1.3 per cent while apartments were down 0.6 per cent.

Sales were up last year for already-built houses (up 2.4 per cent) and townhouses (up 1.6 per cent) while apartment sales were virtually unchanged   (down 0.3 per cent) in 2013 compared to 2012.

 

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