Issue 16-21: Building Permits
February 10, 2016
The value of building permits issued by B.C. municipalities jumped 12.5% (seasonally adjusted) in December. A notable increase was recorded in the value of residential permits issued (+15.4%) and a hefty boost in the commercial (+54.9%) sector pushed planned spending on non-residential projects up 4.7%. In Kelowna, permits slipped 43.9%, while Abbotsford-Mission (+370.5%), Victoria (+55.9%) and Vancouver (+9.0%) experienced increases.
2015 in Review
The value of building permits issued in B.C. amounted to $13 billion in 2015, representing a jump of 18.0% over 2014. The residential sector (+28.0%) fuelled the construction boom as year-over-year non-residential building permits eased (-1.8%). Nationally, planned spending was unchanged (+0.1% to $85 billion).
During 2015, the value of building permits issued rose in many areas of the province, with the strongest gain made in the most populated region. Building intentions were up most substantially in Mainland/Southwest (+23.8%), where planned spending for residential and industrial buildings soared. Thompson/Okanagan (+15.6%) also saw a double-digit increase, while growth in the Vancouver Island/Coast (+6.9%) and Kootenay (+2.5%) regions was comparatively moderate. Conversely, North Coast (-5.8%), Northeast (-10.5%), Cariboo (-23.0%) and Nechako (-57.2%) recorded downturns in building intentions last year.