P.E.I. housing boom shows no sign of slowing down

Investment in new housing construction on P.E.I. continues to grow rapidly, according to data published this week by Statistics Canada.

The new report includes May of this year. It shows steady growth over the last three years, and investment in May was almost triple what it was in May of 2015.

There is also good news for Islanders looking for apartments. Investment in that housing sector stagnated somewhat in 2016 and early 2017, but began to grow in the middle of last year. Investment in May was double what it was in May of 2015.

The new housing is in response to a growing population, driven largely by immigration.

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