Abbotsford Permit Values Down In July

By September 9, 2013Economic Indicators

Submitted. Building permit values in Abbotsford declined 13 per cent in July 2013 from June 2013, with a 31 per cent rise in residential permits not enough to mitigate a 26 per cent decline in non-residential permits, according to Vancouver Regional Construction Association’s analysis of Statistics Canada Building Permit Report.

“Building permits in July declined modestly on less non-residential activity while residential permits rebounded somewhat from a very low June,” said Jan Robinson, interim president of the Vancouver Regional Construction Association (VRCA). “Commercial and institutional-government permits fell back in July, while industrial permits posted a healthy gain reaching their highest level since May 2012.”

Seasonally adjusted non-residential permit values fell to $7.8 million in July from $10.5 million in June. Commercial permits plummeted 82 per cent to $0.4 million in July, industrial permits shot up 205 per cent to $3.1 million, while institutional-government permits fell 42 per cent to $4.3 million. The seasonally adjusted value of residential permits rose 31 per cent to $4.2 million in July 2013 from June’s $3.2 million.

VRCA’s outlook for 2013 for Abbotsford is neutral, with residential permits likely to be the main driver behind any gain in total permits for the year. Government permits will very likely decline while commercial and industrial permits could post a small gain.

Regional Building Permit Highlights

Seasonally adjusted total building permit values in the Abbotsford CMA declined 13 per cent to $12 million in July compared to $13.8 million in June.
Non-residential permits dropped 26 per cent to $7.8 million from $10.5 million in June.
Residential building permits climbed 31 per cent to $4.2 million from $3.2 million in June.
Total building permit values in Abbotsford were down three per cent to $103.4 in the first seven months of 2013 compared to $106.3 million in the same period last year.
Non-residential permits were 17 per cent lower to $41.4 million.
Residential permits were with last year at $51.9 million.
Total building permit values dropped 20 per cent in the Lower Mainland-Southwest region to $542.6 million in July 2013 compared to $675.9 million in June 2013.

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.

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