Jeffrey Qián 錢 曄 // 778-238-2014 //

Canadian Building Permits

Canadian building permits broke a string of two monthly declines, rising 1.1 per cent in April.  The increase was the result of higher construction intentions in the residential sector, which offset a decline in non-residential permits.  

Construction intentions in BC tumbled 20 per cent month-over-month and close to 31 per cent year-over-year in April. The dollar value of residential permits fell 14 per cent on a monthly basis and 32.5  per cent year-over year while non-residential permits were down 32 per cent from March and 26  per cent year-over-year. In unit terms, residential permits fell 26.5 per cent due to weakness in multiple unit permits. 

Building permit activity was down in most of BC's four major census metropolitan areas (CMA) in April. After more than doubling last month, permits in the Abbotsford-Mission CMA moderated 7.8 per cent in April and were down 21 per cent year-over-year.  Similarly, construction intentions in the Victoria CMA fell 53 per cent in April following a large increase in March. In the Kelowna CMA, permits increased 8.5 per cent on a monthly basis and but were down 35 per cent compared to April 2013.  Finally, in the Vancouver CMA, permits fell 25  per cent on a monthly basis and were down 41 per cent year-over-year.

No comments

Post Your Comment:

* indicates required fields.
Your Name: *
Please note, your email will not be shown publicly
Your Email (will not be published): *
Comment: *
Please type the text as it appears above:
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.