Total building permit values in the Lower Mainland of British Columbia rose 42 per cent from 2009, according to a Vancouver Regional Construction Association analysis of the recent Statistics Canada building permit report.
Total building permit values were up 42 per cent at $6.29 billion in 2010, up from $4.43 billion in 2009. The increase was led by a significant surge of 62 percent in residential building permits in 2010 totaling $4.41 billion, compared to $2.73 billion in 2009. Non-residential permits rose 11 percent , or $1.88 billion during the same period.
However while 2010 was an improvement, building permit activity in the Lower Mainland did dip in December 2010. Total building permit values from November 2010 to December 2010 showed a decline of 2 per cent to $362.8 million. Non-residential permit values rose to $158.2 million, up nine per cent for the month, while the value of residential permits slipped nine per cent to $204.7 million.
JOC Digital Media