A predicted increase in B.C.’s population, lower interest rates and increased buyer confidence is leading the head of the Pacific region of the Urban Development Institute to predict 2015 will be a good year for developers in this province.
David Porte was in Kelowna Thursday to speak to member of the Okanagan UDI chapter.
UDI represents developers across B.C. and has 626 members, 112 of whom are located here in the Okanagan.
Porte told his audience there are many factors that will influence how the development sector will fare this year, including the current world-wide drop in oil prices.
With plenty of B.C. workers — including many from the Okanagan Valley — working in the Alberta oil patch, that could mean an even bigger influx of people moving to jobs in this province instead of staying in Alberta.
And Porte questioned if B.C will have the jobs needed for all those workers.
If they can find work, that should bode well for the housing market, said Porte, as one of the keys to consumer confidence is steady employment.
