Issue 17-165 Building Permits

December 7, 2017

The value of building permits dropped 7.3% (seasonally adjusted) in October from the previous month. Increases in permits for commercial (+16.2%) and industrial (+8.6%) projects were offset by decreases for residential (‑12.9%) and institutional (‑7.1%) buildings. The value of permits fell in Vancouver (‑19.6%), where most of the province’s building activity occurs, as well as in Kelowna (‑3.7%). Victoria (+55.6%) and Abbotsford-Mission (+3.1%) saw an increase in the value of permits issued.

Nationally, building permits increased by 3.5% in October. This growth was fueled by increases in Quebec (+21.4%) and Ontario (+15.3%). The value of permits contracted in Alberta (‑24.8%), the Atlantic provinces (‑15.9%), and British Columbia (‑7.3%).

Regional Building Permits

Through October of 2017, the value of building permits issued in the province’s regions climbed 16.8% (unadjusted) above the level recorded in the same period last year. Investment intentions were up in most regions ranging from 2.8% in Kootenay to 168.2% in Nechako. Planned spending rose in Mainland/Southwest (+15.7%), where increases were seen for industrial (+74.8%), institutional and governmental (+49.6%), residential (+12.6%), and commercial (+10.3%) projects. Overall permits continued to increase in North Coast (+71.6%), Thompson/Okanagan (+23.8%), and Vancouver Island/Coast (+23.4%), while the only regions to see declines were Northeast (‑35.1%) and Cariboo (‑11.5%).

Data Source: Statistics Canada (Regional data produced by BC Stats from unpublished data)