The total value of Vancouver building permits issued in May spiked 112% year over year and 39% since April to $781.8 million, according to Statistics Canada figures released this morning.
Vancouver saw the largest municipal spike in building intentions in the country, driven by gains in multi-family dwellings and institutional buildings.
Edmonton and Ottawa also saw key gains, while Calgary, Thunder Bay and Montreal posted the biggest declines.
B.C. led the country in provincial permit value gains. The value of the province’s May construction permits was up 27% since April and 36% year over year. Again, the gains were due to higher construction intentions for multi-family dwellings and institutional buildings.
Saskatchewan and Alberta also saw key gains while Quebec posted the largest decrease.
Nationally, the value of building permits issued by municipalities was up 7.4% in May from the previous month.
In April, Vancouver and B.C. also both saw construction intentions rise. (See “B.C., Vancouver building permits up in April” – June 5).
