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

Compared to the same period one year ago, total non-residential investment spending was 17.1% higher at $893.8 million from $763.4 million,

  • Commercial building investment spending rose 7.7% higher to $1.219 billion compared to $457.3 billion.
  • Institutional-government spending increased 17.6% higher to $457.3 million compared to $388.8 million in 2014.
  • Industrial building investment spending spiked 33.7% higher at $96.9 million.

 

Non-Residential Building Construction Investment, Metro Vancouver, Millions of Dollars
Period Total Industrial Commercial Institutional-Government
2014 Q2 763.4 34.1 550.5 178.8
2015 Q2 893.8 53.8 603.3 236.7
% change 17.1 57.8 9.6 32.4
2014 Q1-Q2 1,593.1 72.5 1,131.8 388.8
2015 Q1-Q2 1,773.6 96.9 1,219.4 457.3
% change 11.3 33.7 7.7 17.6

 

“This is the fourth quarter in a row that investment in non-residential building construction has increased,” said Andrew Peck, vice-president and general manager, Royal Pacific Realty Group.

“It is also the highest level on record, beating the previous record set in Q1 2013.  Metro Vancouver is growing and interest rates remain low, pointing to a positive outlook.”

For information contact Andrew Peck @ apeck@royalpacific.com. Andrew is away, travelling on business.

Metro Vancouver non-residential investmentent