Issue 16-233: Building Permits
December 9, 2016
The value of building permits issued by B.C. municipalities climbed (+7.2%, seasonally adjusted) in October, partially reversing a hefty decline in the previous month (-13.3% in September). Permits for both residential (+6.6%) and non-residential projects (+9.0%) were strong. Planned spending on commercial (+36.1%) buildings soared, and permits were also up for institutional and governmental projects (+2.5%), but much of this strength was offset by a 53.6% drop in the industrial sector.
Vancouver was the only census metropolitan area in the province to see an increase, with construction intentions jumping 28.6%. Permits were down substantially in Kelowna (-42.0%), Abbotsford-Mission (-30.5%) and Victoria (-28.7%).
Canadian building intentions climbed 8.7% as the total value of building permits increased in every province, with the exception of Quebec (-6.6%).
Regional Building Permits
Year-to-date, the value of building permits issued in B.C. was 2.3% higher than in the first ten months of 2015. Planned spending on construction projects was up in four regions, with increases ranging from 9.4% in Kootenay to 37.1% in Cariboo, where much of the boost was the result of soaring permits for commercial (+131.0%) projects.