Residential building permits stall, while commercial permits rise in Victoria
FOR IMMEDIATE RELEASE
VICTORIA, BC (July 10, 2019) - Building permits eased nine per cent lower in May 2019 over the previous month with declines in both residential and non-residential permits. Total permits issued amounted to $71.2 million compared to $78.0 million in April 2019.
Commercial building permits bucked the trend with a 19 per cent increase in May over April 2019. Office buildings accounted for $11.7 million of the $20.6 million of commercial permits issued in May 2019.
“Although we are seeing an ease in residential construction year over year, both the commercial and industrial segments of our industry continue to bolster construction activity in Victoria,” said Rory Kulmala, CEO of the Vancouver Island Construction Association.
Year-to-date permits totaled $433.3 million this year, down 30 per cent from the same period last year. Residential permits were 40 per cent lower while non-residential permits were 24 per cent higher, led by industrial and commercial activity.
MEDIA INQUIRIES & QUOTES
Rory Kulmala, Chief Executive Officer
Vancouver Island Construction Association
250-727-2497 | email@example.com
The Vancouver Island Construction Association (VICA) is a member-based, industry led association that serves the institutional, commercial, industrial, civil, and multi-family residential construction sectors on Vancouver Island, the Gulf Islands, and other coastal areas of British Columbia. With roots that date back to 1912, it is one of the oldest construction associations in Canada.
- 30 -