Skip to Content
View site list

Profile

Economic, Government

Vancouver building permits decline off billion-dollar streak

JOC News Service
Vancouver building permits decline off billion-dollar streak

OTTAWA – Building permits in Vancouver have dipped from a three-month streak where permit values were over $1 billion. 

The value of permits in the census area of metropolitan Vancouver fell 20.5 per cent in February 2019, down to $800 million.

The province of British Columbia also saw value fall to $1.4 billion in permits, a $181-million decline from January 2019. Lower construction intentions for multi-family dwellings offset gains in other sectors.

Saskatchewan permit values also dipped 34 per cent to $108 million, with every component except institutional buildings in decline. The decrease was most significant in the single-family dwelling component and partially reflects recent changes to building energy codes which went into effect across the province on Jan. 1, according to a Statistics Canada release.

The release also noted single-family home permits have been in decline since 2013 and that in 2018 the province of Saskatchewan issued $596 million in single-family home permits, the lowest value since 2006.

Across Canada municipalities issued $7.8 billion in building permits in February, a decline of 5.7 per cent, mostly because of lower construction intentions for multi-family dwellings, which declined 8.5 per cent in February to $4.9 billion, the lowest level since April 2017. This was largely due to declines in Ontario and British Columbia.

Recent Comments

Your comment will appear after review by the site.

You might also like