Issue 17-92: Building Permits
August 11, 2017
The value of building permits rose 2.0% (seasonally adjusted) in June. Permits for residential projects increased 5.9% and those for other types of buildings saw a decrease (-8.8%). Building intentions on industrial (-38.0%) and commercial (-11.8%) led the decline, while institutional spending increased (+48.1%). The value of permits climbed in Vancouver (+8.3%), where most of the province’s building activity occurs. Conversely, Abbotsford Mission (‑22.9%), Victoria (‑3.8%), and Kelowna (‑3.0%) saw a decline in the value of permits issued.
Nationally, building permits increased by 2.5%, buoyed by growth in Quebec (+12.3) and Manitoba (+40.4%). However, the overall increase was moderated by declines in Alberta (‑8.0%) and most of Atlantic Canada (‑25.4%).
Regional Building Permits
During the first six months of 2017, the value of building permits issued in the province’s regions climbed 9.1% (unadjusted) above the level recorded in the same period last year. Investment intentions were up in most regions ranging from 2.9% in Kootenay to 65.1% in Nechako. Planned spending increased in Mainland/Southwest (+3.8%), where industrial (+62.3%), institutional and governmental (+31.9%), and residential (+2.9%) projects climbed. Overall permits also increased in Thompson/Okanagan (+41.4%) and Vancouver Island/Coast (+19.1%), while the only regions to see declines were Cariboo (‑35.7%) and Northeast (‑31.6%).