Connect with Us
Local building permit values jump in June
Building permit values in Abbotsford rose 102 per cent in June 2014 from May (seasonally adjusted), as both residential and non-residential values saw increases, according to Vancouver Regional Construction Association’s (VCRA) regional analysis of a Statistics Canada building permit report.
“Abbotsford permits climbed significantly in June, thanks to non-residential gains in the commercial and industrial permit categories,” said Fiona Famulak, VCRA president. “Residential permits saw large gains that were attributed to a major boost from the multi-unit sector.”
Seasonally adjusted non-residential permit values climbed 53 per cent to $10 million in June 2014 from $6.5 million in May. Industrial permits rebounded to $4.6 million from $400,000, while institutional-government permits fell 82 per cent to $700,000 from $3.7 million. Commercial permits rose 93 per cent to $4.7 million from 2.4 million.
The seasonally adjusted value of residential permits jumped 190 per cent to $10.5 million in June 2014 from May’s $3.6 million.