Commercial Statistics

Residential building permits set new record in Metro Vancouver

Posted on September 9th, 2015

Metro Vancouver municipalities issued $1.027 million worth of building permits in July 2015, an increase of 33% from the $774 million in permits in June 2015. Residential permits set a new record high in July, increasing at $815.6 million exceeding the earlier record this year in March which saw $662.8 million in permits recorded. Institutional-government rose 48% to $50.7 million, while commercial permits declined 14% and industrial permits fell 73%. “Record highs in residential permits set this year are a… Read more

Metro Vancouver Construction employment stalls in August 2015

Posted on September 4th, 2015

Metro Vancouver construction employment declined by 1.3% in August 2015 compared to July and by 6.5% year-to-date 2015 compared to 2014. There were 101,400 construction jobs in August 2015 or 7,000 less jobs compared to August 2014. Year to date, there were 9,400 fewer jobs in 2015 compared to 2014. “With building permits up by 30% last month, I’m unclear as to why this isn’t translating into more construction employment,” said Andrew Peck, vice-president and general manager. “Construction activity is… Read more

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… Read more

Investment in non-residential buildings in Metro Vancouver breaks record

Posted on July 16th, 2015

Spending on non-residential building construction in Metro Vancouver increased 2.9% in the Q2 2015 reaching $887.9 million, up from $863.2 million in the Q1 2015. Non-Residential Building Construction Investment(Seasonally adjusted)Metro Vancouver – Millions of Dollars Period Total Industrial Commercial Institutional-Government 2014 Q2 789.7 35.4 569.1 185.2 2014 Q3 810.4 40.4 599.6 170.4 2014 Q4 826.3 39.3 599.5 187.5 2015 Q1 863.2 43.6 604.9 214.8 2015 Q2 887.9 53.6 600.1 234.1 % change 2015 Q2 -2015 Q1 2.9 23.1 -0.8 9.0… Read more

Construction employment edges up in Metro Vancouver

Posted on July 10th, 2015

For the fifth consecutive month construction employment in Metro Vancouver has increased. The number of persons working totalled 101,900 in June 2015, up 0.9 per cent or 900 jobs compared to May. “This signals continued growth in our economy, although at a slow pace,” said Andrew Peck, vice-president and general manager, Royal Pacific Realty Group. Construction Industry Employment Metro Vancouver (Thousands) Month/Month Year/Year Year-to-Date Average May-15 101.0 Jun-14 107.7 Jan-Jun 2014 108.4 Jun-15 101.9 Jun-15 101.9 Jan-Jun 2015 98.2 %… Read more

May 2015 Building permits volatile in Metro Vancouver

Posted on July 8th, 2015

Metro Vancouver municipalities issued 13% fewer building permits in May 2015. The total dollar value of permits was $631.0 million compared to $727.1 million in April 2015. Non-residential builders took out 41% fewer permits for a total dollar value of $147.9 million compared to $251.9 million in April, although the bright spot was an increase in industrial permits. Commercial permits dropped 42% to $97.7 million. Institutional-government permits fell 50% to $38.0 million from $75.7 million. Industrial permits jumped 47% to $12.2… Read more

Building permits soar in Metro Vancouver

Posted on June 8th, 2015

Building permits, a reliable indicator of future real estate activity rose 87% overall to $715.5 million compared to $381.7 million recorded in April 2014. Residential permit values increased 65%, while non-residential permits expanded by 159%.  Commercial permits rose 105%, while Institutional-government permits shot up 1,368% higher. Industrial permits decreased 29%. “Building permits continue on an upward trend in Metro Vancouver,” said Andrew Peck, vice-president and general Manager, Royal Pacific Realty Group. “The residential construction outlook remains positive in the Metro area which means more home sales.”  Building Permits Issued –… Read more

Construction jobs on the upswing in Metro Vancouver

Posted on June 5th, 2015

For the fourth month in a row Metro Vancouver employment in construction increased. In May, there were 101,000 persons working in construction, a 1.9% increase or 2,200 more jobs than in April. “This signals positive conditions for 2015,” said Andrew Peck, vice president and general manager, Royal Pacific Realty Group. “Construction employment is a good indicator of future trends. “ Construction Industry Employment – Metro Vancouver (Thousands) Month/Month Year/Year Year-to-Date Average Apr-15 99.1 May-14 106.9 Jan-May 2014 108.5 May-15 101.0… Read more

Construction employment edges up in Metro Vancouver

Posted on May 8th, 2015

Construction employment is always a good indicator of homes being built. In Metro Vancouver, construction employment increased 1.0% in April to 99.1 thousand persons compared to March 2015, outperforming the historical seasonal pattern. “April’s gain was the third consecutive month that we saw an increase in employment,” said Andrew Peck, vice-president and general manager, Royal Pacific Realty Group. “We can expect more homes to be built in the coming months.” Construction Industry Employment – Metro Vancouver (Thousands) Month/Month Year/Year Year-to-Date… Read more

More homes slated to be built in Metro Vancouver

Posted on May 7th, 2015

The total dollar value of building permit values  rose 99% reaching $985.6 million in March 2015 compared to $494.3 million in March 2014, according to data released today from Statistics Canada. The value of residential permits increased 96% to $658.5 million from $335.2 million in March 2014.  More homes are slated to be built in Metro Vancouver. Non-residential permits were 106% higher at $327.1 million compared to $159.1 million in March 2014. Commercial permits climbed 132% higher. Industrial permits rose 146% higher. Institutional-government… Read more