Abbotsford Building permit values had jumped by 102 percent in June.
The Vancouver Regional Construction Association (VRCA) is still predicing a positive outlook for 2014 and says there will likely be a gain in total building permits likely over 2013.
From VRCA. Building permit values in Abbotsford rose 102 per cent in June 2014 from May (seasonally adjusted), as both residential and non-residential values saw increases, according to Vancouver Regional Construction Association’s regional analysis of today’s Statistics Canada Building Permit Report.
“Abbotsford permits climbed significantly in June, thanks to non-residential gains in the commercial and industrial permit categories,” said Fiona Famulak, president of the Vancouver Regional Construction Association (VRCA). “Residential permits saw large gains that were attributed to a major boost from the multi-unit sector.”
Seasonally adjusted non-residential permit values climbed 53 per cent to $10 million in June 2014 from $6.5 million in May. Industrial permits rebounded to $4.6 million from $0.4 million, while institutional-government permits fell 82 per cent to $0.7 million from $3.7 million. Commercial permits rose 93 per cent to $4.7 million from 2.4 million. The seasonally adjusted value of residential permits jumped 190 per cent to $10.5 million in June 2014 from May’s $3.6 million.
VRCA’s outlook for Abbotsford in 2014 is positive, with a gain in total building permits likely over 2013.
Regional Building Permit Highlights
- Seasonally adjusted total building permit values in the Abbotsford CMA rose 102 per cent to $20.5 million in June 2014 compared to $10.1 million in May 2014.
- Non-residential permits increased 53 per cent to $10 million from $6.5 million.
- Residential building permits rose 190 per cent to $10.5 million from $3.6 million.
- Total building permit values in Abbotsford were 12 per cent higher to $101.7 million in the first six months of 2014 compared to $90.6 million in the same period last year.
- Non-residential permits were 45 per cent higher at $45.6 million.
- Residential permits were up five per cent to $49.6 million.
- Total building permit values decreased 15 per cent in the Lower Mainland-Southwest region to $558.7 million in June 2014 compared to $657.5 million in May 2014.
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.