Issue 17-101: Building Permits
September 7, 2017
The value of building permits rose 4.6% (seasonally adjusted) in July, bucking the national trend. Permits for residential projects increased 7.8%, which offset decreases for industrial (‑23.0%), institutional (‑4.4%), and commercial (‑2.4%) buildings. The value of permits climbed in Vancouver (+6.2%), where most of the province’s building activity occurs, as well as in Victoria (+8.2%) and Kelowna (+1.8%), while Abbotsford-Mission (‑17.4%) saw a decline in the value of permits issued.
Nationally, building permits decreased by 3.5%. Only three provinces saw increases in building permits: Prince Edward Island (+9.0%), British Columbia (+4.6%), and Quebec (+0.7%). Investment intentions fell in Ontario (-3.7%) and the Prairie provinces (‑13.1%).
Regional Building Permits
Through July of 2017, the value of building permits issued in the province’s regions climbed 14.0% (unadjusted) above the level recorded in the same period last year. Investment intentions were up in most regions ranging from 6.0% in Kootenay to 77.9% in Nechako. Planned spending climbed in Mainland/Southwest (+10.6%), where increases were seen for industrial (+57.5%), institutional and governmental (+32.4%), and residential (+12.2%) projects. Overall permits continued to increase in Thompson/Okanagan (+38.2%) and Vancouver Island/Coast (+20.9%), while the only regions to see declines were Cariboo (‑23.3%) and Northeast (‑35.5%).