Business

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.

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