Canadian building permits rose 1.7 per cent in January, following an 11 per cent decline in December. Higher building permits in the residential sector offset a decline in non-residential permits.
BC posted a 10.9 per cent increase in construction intentions compared with December 2012, and a 4.5 per cent increase over January 2012. Residential permits rose nearly 16 per cent over December while non-residential permits dipped 2 per cent lower.
Permit activity in BC's four major metropolitan areas was varied in January. Construction intentions in the Kelowna CMA fell by nearly half from a relatively high level in December but were up 63 per cent over January 2012. Permit values were 14 per cent lower month-over-month in the Abbotsford CMA but rose nearly 25 per cent in the Vancouver CMA and 44 per cent in the Victoria CMA
Copyright British Columbia Real Estate Association. Reprinted with permission