BC Building Permits Fall 22% in April 2018

BCREA - June 6, 2018


The largest declines in permitting activity were posted in BC, which saw the total value of permits fall 22.6 per cent in April after posting a record high in March.  Year-over-year, total permits values were down only 1.9 per cent at $1.24 billion. Non-residential permits were down 31.8 per cent on a monthly basis  and were 28 per cent lower year-over-year. Residential permits fell 19.6 per cent on a monthly basis but were 10.1 per cent higher year-over-year.

 

Construction intentions in April were down in three of BC's four census metropolitan areas (CMA):

  • Permits in the Abbotsford-Mission CMA fell 26.7 per cent on a monthly basis to $23.8 million. Year-over-year, permit values were down more than half.
  • In the Victoria CMA, total construction intentions increased 16.4 per cent to $109.1 million , a 5.6  per cent rise over this time lats year.
  • In the Kelowna CMA, permits tumbled 30.6 per cent monthly basis, and were down 37.7 per cent year-over-year to $60 million.
  • The Vancouver CMA recorded permit activity valued at $755.9 million, falling 27.3 per cent from the over $1 billion in total permits registered in March. Year-over-year, permits were up 11.9 per cent.
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