The value of residential building permits in Vancouver rose 64 per cent year-over-year in June, according to Statistics Canada data released August 7.
The city’s $499.9 million total value of permits was a rise of 9.7 per compared with May’s figures. More than $255 million of the total value was put into multi-family buildings, with $130 million being spent on single-family homes.
Residential permits across the province were up 41.8 per cent year over year to $752 million, a 6 per cent rise from May.
In other provincial centres surveyed, Victoria more than doubled its building permit values in June, rising 118.2 per cent year over year to $44 million, which was also an increase of 61 per cent compared with May’s figures.
However, reversing the trend of last month, Abbotsford-Mission saw a year-over-year rise of just 0.4 per cent in building permit values, and a 45 per cent drop compared with the previous month.
The value of Kelowna building permits in June totalled $23 million, a drop of 17.5 per cent year over year and 50.1 per cent month over month.
Across Canada, the total value of residential permits was $4.57 billion, a 16.3 per cent increase over the month before and a 6.8 per cent rise year over year. More than half of that dollar figure was invested in single-family home construction.
To read the full Statistics Canada report and interactive charts, click here.
