Q4 Building Permit Report: Residential Rebounds

FOR IMMEDIATE RELEASE                                                                            

Residential building permits rebound

Victoria, BC – February 23, 2021 – The total value of building permits issued on Vancouver Island slipped four per cent to $652.3 million in the fourth quarter of 2020 from $681.6 million the third quarter. Residential building permits jumped 26 per cent over the third quarter to $538.2 million but were four per cent lower compared to the same quarter in 2019.

Non-residential permits dropped 55 per cent in the quarter to $114.1 million from $254.5 million following a large surge in commercial permits in the third quarter. Commercial permits plunged 73 per cent to $56.3 million while institutional-government permits posted a 32 per cent increase to $50.3 million to partially offset that drop. 

"Overall, building permit activity in Vancouver Island communities continues at a strong level, despite the coronavirus pandemic,” said Rory Kulmala, CEO of the Vancouver Island Construction Association.

Notable performances during the fourth quarter of 2020 included a 60 per cent jump in residential permits issued in the Capital Regional District (RD) over the third quarter, a 20 per cent increase in total permits in the Strathcona RD, and a 14 per cent rise in the Alberni-Clayoquot RD.

The Nanaimo investment spending on non-residential building construction in the Victoria metropolitan area rose for the fourth consecutive month ending in November to $37.2 million as a result of a rebound in commercial and public permits that occurred in the third quarter of 2020.

Victoria’s residential building construction investment spending increased 8.1 per cent ending in November to $157 million on the strength of multi-unit dwellings, particularly apartments which increased 22.3 per cent to $88.08 million.

Construction industry employment in Vancouver Island-Coast region dropped 14.4 per cent during the fourth quarter in Vancouver Island (excluding Victoria) and 1.4 per cent in the Victoria metro area. This result was not consistent with other indicators of construction activity at that time.  

“While total building permits issued in 2020 came in one per cent below 2019’s level, the 2021 outlook is somewhat uncertain as a result of the pandemic,” said Kulmala.

“Overall, I expect total building permits issued in 2021 will increase about five per cent over 2020, led by residential construction activity as demand for housing increases due to low interest rates, affordable home prices and provincial in-migration.

Click here to view full report.

Arrange an interview with VICA CEO Rory Kulmala:

Owen O’Rourke, Communications Specialist

Vancouver Island Construction Association

250.800.1722 | owen@vicabc.ca 

Advocacy Header.PNG
February 05, 2021

VICA's Advocacy: 2021 MLA Directory

Your VICA Membership means we're working on issues on your behalf. Whether it be tendering issues, procurement practices, or supporting provincial and national issues through our partners at BCCA and CCA, VICA continues to be your voice for issues impacting our industry.
Read More
Strategic Planning - Image.jpg
January 14, 2021

The benefits of strategic planning for your busines

A common misconception is that strategic planning is only for large companies. But the reality is that most businesses can greatly benefit from the exercise. Whether it's buying a competitor, increasing your capital or aiming for higher growth, you need the right strategies, structure, plans and controls in place to optimize the return on your investment.
Read More
VICA BC 2017 Centered Logo - grey.png
November 17, 2020

Five Industry Leaders Elected to VICA Board

November 16, 2020 (Victoria, BC) – The Vancouver Island Construction Association (VICA) and its membership elected five industry leaders to its 2020-2021 Board of Directors at its Annual General Meeting on November 13, 2020. There were six nominees from across Vancouver Island.
Read More
VIREB Commerical Award.PNG
October 01, 2020

VICA Members win big at VIREB Commercial Building Awards

Even throughout a global pandemic, commitment to building excellence has not swayed. We would like to congratulate all winners and nominees for their hard work, creative ideas and designs, as well as maintaining a safe work environment throughout the COVID-19 pandemic.
Read More
VICA Worksafe 8 Jun 20.jpg
June 08, 2020

VICA Supports Employer's Forum submission to WSBC

As stated in the letter, we support Employer's Forum's position regarding the amendment of Schedule 1 of the Worker's Compensation Act to add a presumption for COVID-19, or broad coronaviruses or respiratory communicable diseases.
Read More
iStock-455650517-e1545165435604.jpg
March 20, 2020

VICA and VIHA partner for PPE Donation

In support of Island Health and front-line healthcare staff, working tirelessly to keep our communities safe from COVID-19, the Vancouver Island Construction Association (VICA) has put a call out to their membership for donations of new, unopened N95 masks, sanitizer solution and wipes, or other personal protection equipment suitable for their work.
Read More
VICA BC 2018 Stacked Logo.png
March 13, 2020

Important updates from VICA regarding COVID-19

In the wake of recent announcements from federal and provincial health officials surrounding COVID-19, we would like to provide you with an update on the actions we, the Vancouver Island Construction Association (VICA) is taking in response to the direction set out by the Provincial Health Officer (PHO).
Read More