Construction activity robust in the second quarter of 2017
Building permits and employment up; expected to increase
August 23, 2017 (Victoria, BC) – Higher residential activity and a surge in commercial permits contributed to robust growth in Vancouver Island construction from April to June 2017.
"Building permits were higher in four regional districts, led by the Capital Regional District with a 64 per cent jump over the first quarter, followed by Mt. Waddington with a 33 per cent increase,” said Rory Kulmala, CEO of the Vancouver Island Construction Association (VICA). "This trend is consistent with the increase in project opportunities in the Association’s digital plan room.”
The total dollar value of building permits issued for the Island in the second quarter rose to $616.4 million, a 38 per cent increase compared to the first quarter of 2017. Major projects contributing to the building permits issued during this period include renovations at UVIC in the District of Oak Bay, an expansion at Mayfair Mail in the City of Victoria, foundation work for a sewage treatment plant in Esquimalt, and a new landfill building in Cumberland.
"Economic and population growth will continue to support the Island’s construction industry throughout 2017,” said Kulmala. “We expect residential activity to grow and non-residential activity to broaden out to more areas of Vancouver Island.”
Total building permits in 2017 are expected to increase by about 20 per cent with construction employment up another three per cent or more. Constructions costs will continue to accelerate, and will exceed 2016’s rise of slightly more than four per cent.
HIGHLIGHTS OF Q2 2017:
- 36% increase in residential permits in Q2 compared to Q1
- 44% surge in non-residential permits over Q1 2017 and a 196% increase in institutionalgovernment permits compared to a year ago
- 4% increase in construction employment year to date compared to this period in 2016
Full regional data and graphs are available by request.
For more information, please contact:
Rory Kulmala, Chief Executive Officer
Vancouver Island Construction Association
250-727-2497 | firstname.lastname@example.org
VICA has served the construction community since 1912 and is one of Canada’s oldest not-forprofit associations. With offices in Victoria and Nanaimo, we provide support and services to 450+ member companies — contractors, consultants, manufacturers, suppliers, and purchasers of construction services — across Vancouver Island. www.vicabc.ca