BC Real Estate Association ECONOMICS NOW

Canadian Building Permits - November 6, 2014

The value of Canadian building permits increased 12.7 per cent in September, rebounding from a steep decline in the previous month.

Building permits also re
bounded in BC, rising 9.8 per cent on a monthly basis and 3.8 per cent year-over-year to $879.4 million. Both non-residential and residential permits were higher in September, but growth was primarily the result of a 12.1 per cent increase in residential permits.

Construction int
entions were mixed in BC's four census metropolitan areas (CMA). Permits in the Abbotsford-Mission CMA posted a second consecutive month of steep declines, falling 45.7 per cent on a monthly basis, and 37.4 per cent compared to September 2013.  Construction intentions in the Kelowna CMA were also lower, with permits dipping 14.1 per cent from August, but were 12.5 per cent higher year-over-year.  In the Victoria CMA, permit activity increased 15.8 per cent on a monthly basis and was up 24.9 per cent year-over-year. In the Vancouver CMA, permits were up 8.5 per cent on a monthly basis and were 1 per cent higher year-over-year.

For more information, please contact: 

Cameron Muir

Brendon Ogmundson

Chief Economist


Direct: 604.742.2780

Direct: 604.742.2796

Mobile: 778.229.1884

Mobile: 604.505.6793

Email: cmuir@bcrea.bc.ca

Email: bogmundson@bcrea.bc.ca

The British Columbia Real Estate Association (BCREA) is the professional association for more than 18,500 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.

Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information. 

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Paige Gregson

CENTURY 21 Executives Realty Ltd.
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