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 sale of an 8,250-square-foot (766 square metre) lot in Vancouver’s Coal Harbour for $13.1 million is considered a record price paid for a condominium ...

Read Article

North Vancouver’s first six-storey condominium building constructed with wood-frame construction may help silence critics of the nascent building system 

Read Article

Regional office vacancy rate expected to continue upward trajectory, perhaps touching 13%

Read Article

An inconspicuous 10,000-square-foot warehouse in lower Mount Pleasant might seem like an improbable start for a career in real estate, but when Tobi Reyes made ...

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

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