Submitted. Non-residential construction investment in the Abbotsford CMA saw a decline in the fourth quarter of 2013, and ended the year down 25.6 per cent from 2012, according to Vancouver Regional Construction Association’s analysis of Statistics Canada’s Investment in Non-Residential Building Construction report.
“Total non-residential building construction spending in the fourth quarter of 2013 was down in Abbotsford, with declines in all three categories,” says Fiona Famulak, president of the Vancouver Regional Construction Association (VRCA). “We don’t predict any immediate turnaround, with no major proposed projects showing in the near term.”
Total non-residential building construction investment spending in Abbotsford decreased 19.8 per cent to $33.2 million seasonally adjusted in the fourth quarter of 2013, compared to $41.4 million in the third quarter of 2013. Commercial construction investment dropped 23.9 per cent to $12.3 million, while institutional-government spending fell 12.6 per cent to $17 million and industrial building investment decreased 32.6 per cent to $3.9 million.
“Total spending will likely post a decline in the first quarter of 2014 based on recent building permits, however the long quarterly downtrend will likely end in 2014 and total spending will hit a bottom,” says Famulak.
Metro Vancouver saw a 0.3 per cent rise in total non-residential building construction investment in the fourth quarter of 2013 to $859.2 million seasonally adjusted, from $856.6 million in the third quarter of 2013, finishing the year up 11.1 per cent to $3.496 billion.
Highlights from the fourth quarter 2013 Investment in Non-residential Building Construction report:
Abbotsford Census Metropolitan Area (CMA)
Non-residential building construction investment fell 19.8 per cent to $33.2 million seasonally adjusted in the fourth quarter 2013 from $41.4 million in the third quarter of 2013.
– Commercial building spending declined 23.9 per cent to $12.3 million.
– Industrial building investment fell 32.6 per cent to $3.9 million.
– Institutional-governmental building investment dropped 12.6 per cent to $17 million.
Year to date 2013 compared to year to date 2012
Total non-residential building construction investment spending was down 25.6 per cent to $161.1 million in 2013 compared to $216.6 million one year ago.
– Commercial building investment spending was down 50.5 per cent to $70.5 million from $142.4 million in 2012.
– Industrial building investment spending was 15.9 per cent lower at $18.7million from $22.3 million in 2012.
– Institutional-government spending was up 38.4 per cent to $71.9 million from 51.9 million in 2012.
With close to 700 members, VRCA is British Columbia’s largest and most inclusive regional construction association, representing union and non-union, general and trade contracting companies, manufacturers, suppliers and other professionals throughout the Lower Mainland from Hope to Whistler.