Construction of the new Cameo development, the old and new home Sidney’s Star Cinema, continues against the backdrop of new figures showing a decline in the value of building permits across Greater Victoria. (Wolf Depner/News Staff)

Value of building permits down across Greater Victoria

Stats Canada shows a drop of 13 per cent

Victoria is lagging behind the rest of the province when it comes to the value of new building permits.

According to Statistics Canada, the value of building permits in the Victoria Census Metropolitan Area dropped by almost 13 per cent between December 2019 and January, down to $98.8 million from $114.2 million. Compared to January 2019, values dropped by 3.7 per cent this year.

Both Vancouver and Kelowna saw increases of 47.5 per cent and 3.1 per cent respectively in January, compared to January 2019. The value of building permits dropped 30.2 in the Abbotsford–Mission.

A broader look confirmed the impact of Vancouver on the value of building permits in British Columbia and Canada.

RELATED: Construction of Sidney’s Cameo project officially underway

While the value of all building permits rose by four per cent ($9 billion) in January, compared to the previous month, British Columbia accounted for just under a quarter of the increase ($2 billion). Just under 38 per cent of that increase came from Vancouver, which recently raised development cost charges.

Looking at different sectors, the residential sector reported strong gains, with the value of permits for single-family homes rising seven per cent and multi-family dwellings 17 per cent. On the non-residential side, the value of permits rose in the industrial category (up 6.8 per cent), while dropping on the institutional side (down 30.5 per cent).

Commercial construction stagnated.


Like us on Facebook and follow @wolfgang_depner

wolfgang.depner@peninsulanewsreview.com

Construction

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Excess activity damaging Saanich golf course – despite being closed

Cedar Hill Golf Course manager reminds people of the 170 parks available in Saanich

‘Small python’ found in vacant Cook Street apartment

Snake taken to CRD Animal Shelter to be claimed

Greater Victoria liquor stores see spike in sales amidst COVID-19

Customers are buying go-to products in larger quantities

Spring shift in service includes no weekend late night bus services in Greater Victoria

Annual shift into spring sees additional decrease in frequency on multiple routes

Saanich suspends penalty for late bill payments amid COVID-19 pandemic

COVID-19 has become a financial crisis as well as a health crisis, mayor says

VIDEO: ‘Used gloves and masks go in the garbage,’ says irked B.C. mayor

Health officials have said single-use gloves won’t do much to curb the spread of COVID-19

POLL: Will you be able to make your rent or mortgage payment this month?

With the COVID-19 delivering a devastating blow to the global economy, and… Continue reading

COVID-19: postponed surgeries will be done, B.C. health minister says

Contract with private surgical clinic to help clear backlog

Black Press Media ad sparks discussion about value of community newspapers

White Rock resident hopes front-page note shines light on revenue loss during COVID-19 crisis

53 new COVID-19 cases in B.C., four new deaths

B.C. has 498 active confirmed cases of the novel coronavirus

Nanaimo man arrested after allegedly setting house fire

Firefighters arrived to find mobile home ablaze on Barnes Road in Cedar on Thursday

Businesses advised to prepare for federal, B.C. COVID-19 assistance

Canada Revenue Agency portal expected to open next week

Dogs are property, not kids, B.C. judge tells former couple

Court decision made on competing lawsuits over Zeus and Aurora — a pit bull and pit bull cross

B.C. senior gives blood for 200th time, has ‘saved’ 600 lives

There was no cutting of cake for Harvey Rempel but he’s challenging youth to start donating blood

Most Read