The value of Canadian building permits fell for a second consecutive month in February, dropping 0.9 per cent on a monthly basis.
In contrast, the total value of building permits issued in BC rose 17.4 per cent on a monthly basis. Non-residential permits increased 17 per cent while residential sectors increased 18.7 per cent in February. On a year-over year basis, total permits were up 15.9 per cent compared to last February.
Construction intentions were mixed in BC's four census metropolitan areas (CMA). Permits in the Abbotsford-Mission CMA fell 3.3 per cent on a monthly basis but were 20.8 per cent higher year-over-year. In the Kelowna CMA, permits declined 47.8 per cent from January and were 21.6 per cent lower year-over-year. In the Victoria CMA, permit activity was up 11.6per cent on a monthly basis and was 72 per cent higher year-over-year. In the Vancouver CMA, permits recovered from a weak January, jumping 50.9 per cent on a monthly basis and 16.6 per cent year-over-year
Construction intentions were mixed in BC's four census metropolitan areas (CMA). Permits in the Abbotsford-Mission CMA fell 3.3 per cent on a monthly basis but were 20.8 per cent higher year-over-year. In the Kelowna CMA, permits declined 47.8 per cent from January and were 21.6 per cent lower year-over-year. In the Victoria CMA, permit activity was up 11.6per cent on a monthly basis and was 72 per cent higher year-over-year. In the Vancouver CMA, permits recovered from a weak January, jumping 50.9 per cent on a monthly basis and 16.6 per cent year-over-year
Copyright BCREA - reprinted with permission
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