Issue 17-124 Building Permits
October 10, 2017
The value of building permits fell 9.9% (seasonally adjusted) in August from the previous month. A decrease in permits for residential (‑16.5%) and institutional (‑13.6) projects offset increases for industrial (+47.1%) and commercial (+17.0%) buildings. The value of permits fell in Vancouver (‑12.8%), where most of the province’s building activity occurs, as well as in Victoria (‑15.6%). Kelowna (+32.6%) and Abbotsford-Mission (+7.6%) saw increases in the value of permits issued.
Nationally, building permits decreased by 5.5%. This trend continued in Ontario (‑10.5%), British Columbia (‑9.9%), and Quebec (‑4.3%), while investment intentions rose in the Atlantic (+11.0%) and Prairie provinces (+4.0%) in August.
Regional Building Permits
Through August of 2017, the value of building permits issued in the province’s regions climbed 13.3% (unadjusted) above the level recorded in the same period last year. Investment intentions were up in most regions ranging from 8.3% in Kootenay to 109.8% in Nechako. Planned spending rose in Mainland/Southwest (+11.0%), where increases were seen for industrial (+88.1%), institutional and governmental (+39.5%), and residential (+9.6%) projects. Overall permits continued to increase in North Coast (+80.2%), Thompson/Okanagan (+27.1%), and Vancouver Island/Coast (+19.1%), while the only regions to see declines were Cariboo (‑10.8%) and Northeast (‑42.2%).