Issue 18-08: Building Permits
January 10, 2018
The value of building permits dropped 13.8% (seasonally adjusted) in November from the previous month. Increases in permits for institutional (+4.4) projects were offset by decreases for industrial (‑30.8%), residential (‑17.5%) and commercial (‑3.9%) buildings. The value of permits fell in Vancouver (‑8.6%), where most of the province’s building activity occurs, as well as in Victoria (‑73.6%) and Abbotsford-Mission (‑16.6%). Kelowna (+21.5%) saw an increase in the value of permits issued.
Nationally, building permits decreased by 7.7% in November. The value of permits contracted in Quebec (‑28.3%), British Columbia (‑13.8%), Ontario (‑9.3%), and the Atlantic provinces (‑6.6%). Conversely, there was growth in Manitoba (+42.3%), Alberta (+25.6%), and Saskatchewan (+24.1%).
Regional Building Permits
Through November of 2017, the value of building permits issued in the province’s regions climbed 14.4% (unadjusted) above the level recorded in the same period last year. Investment intentions were up in most regions ranging from 5.1% in Kootenay to 165.3% in Nechako. Planned spending rose in Mainland/Southwest (+12.3%), where increases were seen for institutional and governmental (+66.2%), industrial (+64.6%), commercial (+14.4%), and residential (+6.6%) projects. Overall permits continued to increase in North Coast (+68.0%), Thompson/Okanagan (+25.2%), and Vancouver Island/Coast (+21.5%), while the only regions to see declines were Northeast (‑31.8%) and Cariboo (‑10.3%).