The value of residential building permits in Vancouver saw a massive turnaround in February, as the numbers rose sharply following the winter's declining trend, according to Statistics Canada data released April 9.
Residential permits in the city totalled $490.8 million in February, a jump of 56.5 per cent compared with February 2014, and a rise of 48.3 per cent month over month.
Across BC, residential permits totalled $707.4 million, a 45.3 per cent rise year over year, and a month-over-month rise of 17 per cent.
Both in the city and across the province, the increases were driven by rises in permits for multi-unit developments, with single-family home permits rising much more modestly.
Nationwide, the rise in total value of residential building permits in February was much more moderate at 7.5 per cent year over year.
To read the full report and see the interactive statistics chart, click here.
