The number of building permits issued in September fell in Vancouver and across British Columbia compared with one month prior, according to Statistics Canada data released November 6.
Permits issued in Vancouver dropped 11.3% in September to $515 million from $580.8 million in August, while B.C.-wide, the value decreased 6% to $840 million in September from $893 million in August.
The province-wide dip was driven by a 14.1% drop in residential building permits. This decline was partially offset by a 10.3% increase in non-residential permits – mainly the result of increased institutional permits for the building of nursing homes.
Across the country, the total dollar value of permits issued increased by 1.7% to $6.5 billion – the seventh monthly increase since the beginning of 2013. The growth was largely related to a 3.3% increase in residential permits, mostly in Alberta and Quebec, which saw increases of 22.5% and 15.2%, respectively.
Industrial permits across Canada fell 13.4% to $460 million in September, which was driven in part by a drop in industrial permits for the construction of manufacturing plants in B.C. and Quebec.
The provinces with the biggest overall increases in September compared with one month prior were:
- Prince Edward Island: up 30% to $18.2 million;
- Newfoundland and Labrador: up 21.6% to $100.4 million;
- Quebec: up 17.8% to $1.3 billion.
Year-over-year, the value of permits issued in B.C. fell by 18.6%, mostly due to a 32.8% drop in non-residential building permits. Canada-wide, the value increased by 0.2% after falling 15.2% in the twelve months leading to August.
