Building permits bounce back in Metro Vancouver

Posted on August 7th, 2015

The total value of building permits rose 52% to $774.0 million in Metro Vancouver compared to $510.6 million in June 2014, according to data released today by Statistics Canada.

Residential building permits increased 60% to $534.4 million compared to $333.4 million last year.

Non-residential permits were 35% higher at $239.6 million compared to $177.2 million one year ago.

  • Commercial permits increased 19%.
  • Industrial permits increased 449% higher.
  • Institutional-government permits increased 63%.

“Building permits have rebounded across all sectors,” said Andrew peck, vice-president and general manager, Royal Pacific Realty Group.

“We think this will continue for the remainder of the year, making 2015 come in about 25% higher than 2014.”

 Building Permits Issued – Metro Vancouver
Total Non-Residential Permits Residential Permits
Period Permits Total Industrial Commercial Inst.-Govt. Value Units
  (Dollars – Thousands)  
May-15 640,541 149,280 12,237 98,991 38,052 491,261 2,027
Jun-15 773,991 239,574 25,202 180,055 34,317 534,417 2,407
% change 21 60 106 82 -10 9 19
Jun-14 510,619 177,218 4,587 151,547 21,084 333,401 1,212
Jun-15 773,991 239,574 25,202 180,055 34,317 534,417 2,407
% change 52 35 449 19 63 60 99
Jan-Jun-14 3,095,362 946,292 74,362 693,788 178,142 2,149,070 8,689
Jan-Jun-15 4,091,101 1,164,733 118,279 795,097 251,357 2,926,368 12,029
% change 32 23 59 15 41 36 38
Source: Statistics Canada

Building Permits, August 2015 2

 

For information, contact Andrew Peck, vice-president and general manager at apeck@royalpacific.com. Andrew is away travelling on business.