Building permit values in Abbotsford slipped 14 per cent in January 2013 from December 2012, with a drop in non-residential permits offset slightly by a rise in residential permits, according to Vancouver Regional Construction Association’s analysis of Statistics Canada Building Permit Report.
After a strong December, non-residential permits decline while residential permits rise
Seasonally adjusted total building permit values in Abbotsford fell in January 2013 to $16.1 million from $18.8 million in December 2012.
“Abbotsford saw a drop in non-residential permits in January,” says Rick Wagner, Chair, Board of Directors of the Vancouver Regional Construction Association (VRCA). “While this was not surprising given the spike in permits in December, non-residential permits will likely remain low as no major projects are currently waiting in the wings.”
Seasonally adjusted non-residential permit values fell 78 per cent to $1.5 million from $6.8 million in December. Commercial permits fell to near zero in January, industrial permits dropped 32 per cent to $1.4 million from $2.0 million, while no institutional-government permits were issued in January. The seasonally adjusted value of residential permits increased 22 per cent to $14.7 million in January 2013 from December’s $12.0 million.
VRCA’s outlook for 2013 for Abbotsford is mixed but slightly positive, with total permits likely to remain below the past ten-year average.
Regional Building Permit Highlights
- Seasonally adjusted total building permit values in the Abbotsford CMA fell 14 per cent to $16.1 million in January 2013 compared to $18.8 million in December
- Non-residential permits dropped 78 per cent in January to $1.5 million from $6.8 million
- Residential permits rose 22 per cent in January to $14.7 million from $12.0 million
- Total building permit values in Abbotsford were down 10 per cent year over year to $14.9 million in January 2013 compared to $16.6 million in January 2012
- Non-residential permits were down 55 per cent to $1.5 million from $3.3 million last year
- Residential permits were up eight per cent to $13.0 million from $12.0 million last year
- Total building permit values rose 27 per cent in the Lower Mainland-Southwest region to $525.1 million in January 2013 from $412.2 million in December 2012
With more than 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.