Vancouver’s 2012 building permits outpaced 2011

As of November 2012, year-to-date construction intentions in the Vancouver Census Metropolitan Area (CMA) were up substantially over the previous year, according to the Vancouver ...

As of November 2012, year-to-date construction intentions in the Vancouver Census Metropolitan Area (CMA) were up substantially over the previous year, according to the Vancouver Regional Construction Association (VRCA)’s analysis of Statistics Canada data.

The organization found that as of November, the value of Vancouver CMA’s year-to-date building permits was up 26% from the same period of 2011 to $6.604 billion. It found a similar trend for the Lower Mainland-Southwest region, where year-to-date construction intentions as of November 2012 were up 22% over the previous year to $7.069 billion.

“With one reporting month left in 2012, this year may close as the best since the recession and since 2007,” said VRCA president Keith Sashaw.

“This is good news for the Lower Mainland-Southwest region, as building permits are a key economic indicator signaling investor confidence and a healthy economy, and construction activity resulting from building permits makes a significant contribution to economic activity in the region.”

jwagler@biv.com

@JennyWagler_BIV

comments powered by Disqus

Also Read

More From Real Estate

The future price of condominiums, even in suburban Metro Vancouver markets, can be expected to increase because of...

Read Article

The Lower Mainland’s high-flying commercial real estate market came down to earth with a thud in the third quarter of 2014, dropping... 

Read Article

In a city with notoriously low vacancy rates, looking for an apartment in Vancouver seems to be getting even more difficult 

Read Article

Over the past two years RealNet Canada Inc. has offered a helpful analysis of the long-term value of investment properties in Metro Vancouver. 

Read Article

Plan for the site is to integrate existing 62,000-square-foot building with a new structure

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
×