Issue 16-153: Building Permits
August 9, 2016
The value of building permits issued in British Columbia declined 11.5% (seasonally adjusted) in June. Planned spending on both residential (-15.0%) and non-residential (-1.7%) projects was lower than in May.
In Victoria, permits more than doubled (+115.3%) and recorded one of the most significant increases among Canadian cities. Abbotsford-Mission also saw a notable jump (+16.1%), but intentions were down in Vancouver (-25.2%) and Kelowna (-42.5%).
Nationally, permits dipped 5.5% with decreases in other provinces ranging from 2.9% in Alberta to 44.8% in Nova Scotia. Four provinces posted increases in June, the most notable of which was in Saskatchewan (+72.4%).
Regional Building Permits
Year-to-date, building permits were 7.6% higher than in the first six months of 2015, with increases recorded in five regions. Cariboo (+40.0%), saw the most notable boost, reflecting substantially higher spending on residential, commercial and governmental/institutional projects. A 5.0% rise in Mainland/Southwest, where most of the province’s building activity occurs, was concentrated in the residential and commercial sectors. Permits were off in some parts of the province, with declines ranging from 11.5% in Kootenay to 46.6% in Northeast.