The value of Vancouver’s September building permits dropped 17.8% from the previous month to $404.5 million, and 42.1% compared with September 2010, according to data released this morning by Statistics Canada.
Nationally, the value of September building permits was down 4.9% to $5.6 billion for a third consecutive monthly drop, with B.C. and Alberta leading the decline.
Throughout B.C., building permits were down 21.2% from the previous month and 38.7% year-over-year, with major drops in both residential and non-residential building intentions.
In Victoria, September building permits dropped 13.4% relative to July and 0.9% year over year.
In Abbotsford-Mission, September building intentions dropped 31.7% from the previous month and 35.7% relative to September 2010.
In Kelowna, the value of September building permits rose 45.7% relative to July, but dropped 50.7% relative to a year prior.
In July, Vancouver and Victoria dropped in building intentions. (See “Vancouver, Victoria building intentions drop in July” – BIV Business Today, September 8.)
Jenny Wagler
@JennyWagler_BIV