Steve Flynn  RE/MAX Crest Realty- Burnaby 

Cell: 604.785.3977 |

Categories

Canadian Building Permits - September 7, 2018

The total value of Canadian building permits edged 0.1 per cent lower on a monthly basis in July. The decline was the result of lower construction intentions in BC.
 
In BC, the total value of permits fell 11 per cent on a monthly basis to $1.4 billion.  Residential permits decreased 15.4 per cent from June and were down 3 per cent year-over-year, as a result of lower permit activity for multi-family units in Vancouver. Non-residential permits were up 6.7 per cent from June, but were 2 per cent lower year-over-year.
 
Construction intentions in July were down in three of BC's four census metropolitan areas (CMA):

  • Permits in the Abbotsford-Mission CMA fell 10 per cent on a monthly basis to $28.3 million. Year-over-year, permit values were down 28 per cent.
  • In the Victoria CMA, total construction intentions were down by half on a monthly basis to just $76.7 million, a 40 per cent decline over this time last year.
  • In the Kelowna CMA, permits values increased by 13.3 per cent on a monthly basis to $113.2 million, and were up 44 per cent year-over-year.
  • The Vancouver CMA recorded permit activity valued at 796.8 million, a 13.5 per cent decline from May and down 9 per cent year-over-year.


Copyright British Columbia Real Estate Association. Reprinted with permission.

Comments:
No comments

Post Your Comment:

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.