Total building permit values across Metro Vancouver rose 1% in 2011 compared with 2010, according to Vancouver Regional Construction Association’s (VRCA) analysis of Statistics Canada data released earlier this week.
“While permit values dropped in December, annual permit values in 2011 came in at nearly identical levels to 2010,” said VRCA president Keith Sashaw.
Total permit values for 2011 nudged up 1% to $6.339 billion compared with $6.296 billion in 2010.
Non-residential permits rose in value by about 10%, to $2.055 billion, whereas residential permit values dipped 3% to $4.284 billion.
The year did not end on a good note.
Total building permit values across the region fell 20% to $539.2 million in December 2011 compared with $676.4 million in November 2011.