Submitted. Building permit values in Abbotsford were up two per cent in August 2013 from July 2013, with a 165 per cent rise in residential permits offsetting an 86 per cent decline in non-residential permits, according to Vancouver Regional Construction Association’s analysis of Statistics Canada Building Permit Report.
“Non-residential activity in Abbotsford continued to trend down in August, while residential permits continued to rise,” said Fiona Famulak, president of the Vancouver Regional Construction Association (VRCA). “Commercial permits saw a rise, but industrial permits fell back from last month’s spike, and institutional-government permits dropped to zero.”
Seasonally adjusted non-residential permit values fell to $1.1 million in August 2013 from $7.8 million in July. Commercial permits were up 90 per cent to $0.7 million in August, industrial permits dropped 89 per cent to $0.4 million, while no institutional-government permits were issued for the month. The seasonally adjusted value of residential permits shot up 165 per cent to $11.2 million in August 2013 from July’s $4.2 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. The 2014 outlook for higher investment spending on buildings is brighter.
Regional Building Permit Highlights
- Seasonally adjusted total building permit values in the Abbotsford CMA were up two per cent to $12.3 million in August 2013 compared to $12 million in July.
- Non-residential permits dropped 86 per cent to $1.1 million from $7.8 million.
- Residential building permits rose 165 per cent to $11.2 million from $4.2 million.
- Total building permit values in Abbotsford were down two per cent to $116.2 million in the first eight months of 2013 compared to $118 million in the same period last year.
- Non-residential permits were 18 per cent lower to $42.4 million.
Residential permits were up nine per cent to $63.4 million.
- Total building permit values rose 10 per cent in the Lower Mainland-Southwest region to $643.8 million in August 2013 compared to $587.8 million in July 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.