Issue 17-09: Building Permits
January 13, 2017
The value of building permits issued by B.C. municipalities climbed (+14.7%, seasonally adjusted) in November, adding to a 12.5% boost in October. Residential permits jumped (+21.1%), building on the previous month’s (+11.3%) gain. Conversely, the value of non-residential permits dipped (-5.0%), as planned spending on commercial (-2.2%) and institutional and governmental (-17.9%) projects slowed.
Abbotsford-Mission (-49.1%) and Victoria (-13.4%) saw double-digit declines while, in contrast, a hefty increase was seen in Vancouver (+30.7%). Kelowna (+2.7%) also saw the value of permits rise in November, though to a lesser degree.
Nationally, permits stalled (-0.1%), as four provinces recorded declines. Non-residential permits were on the rise (+3.0%), but the value of residential projects (-1.6%) was down.
Regional Building Permits
Compared to the same month of 2015, the year-to-date value of building permits is-sued by B.C. municipalities climbed 4.1% (unadjusted) in November, with activity escalating in four regions. Cariboo (+46.8%) posted the most substantial increase, but overall permits were mostly bolstered by intentions in Vancouver Island/Coast (+34.0%). On the flip side, permits were down in four other regions, including Mainland/Southwest (-3.1%), where declines in planned spending were seen for industrial, commercial and institutional and governmental buildings.