mr.x
Feb 7, 2008, 1:22 AM
Vancouver building permits for 2007 up 30%; worth $2.57 billion
Derrick Penner, Vancouver Sun
Published: Wednesday, February 06, 2008
VANCOUVER -- Summer strike aside, Vancouver saw a huge surge in building permits in 2007, according to city reports.
In a communique, Mayor Sam Sullivan said the city issued $2.57 billion in permits during the year, a 30-per-cent increase from 2006. That represents 36 per cent of the $7 billion in permits issued by municipalities across Greater Vancouver, according to figures released by Statistics Canada Wednesday.
In all of British Columbia in 2007, municipalities issued $12.5 billion in permits, up 8.7 per cent from 2006. Some $8.6 billion of that represented permits for residential construction, an increase of 13 per cent from the previous year.
Non-residential permits accounted for $3.9 billion of the total, up marginally from 2006.
Statistics Canada, in its report, said higher construction prices to build new dwellings were responsible for a significant amount of the increase in residential permit values from a national perspective.
Across Canada, the value of building permits, at $45.6 billion, was up 11 per cent, while the number of new dwellings increased by only two per cent.
Nationally, the $74.3 billion in permits issued was also another record high eclipsing 2006's $66.3 billion by 12 per cent.
Derrick Penner, Vancouver Sun
Published: Wednesday, February 06, 2008
VANCOUVER -- Summer strike aside, Vancouver saw a huge surge in building permits in 2007, according to city reports.
In a communique, Mayor Sam Sullivan said the city issued $2.57 billion in permits during the year, a 30-per-cent increase from 2006. That represents 36 per cent of the $7 billion in permits issued by municipalities across Greater Vancouver, according to figures released by Statistics Canada Wednesday.
In all of British Columbia in 2007, municipalities issued $12.5 billion in permits, up 8.7 per cent from 2006. Some $8.6 billion of that represented permits for residential construction, an increase of 13 per cent from the previous year.
Non-residential permits accounted for $3.9 billion of the total, up marginally from 2006.
Statistics Canada, in its report, said higher construction prices to build new dwellings were responsible for a significant amount of the increase in residential permit values from a national perspective.
Across Canada, the value of building permits, at $45.6 billion, was up 11 per cent, while the number of new dwellings increased by only two per cent.
Nationally, the $74.3 billion in permits issued was also another record high eclipsing 2006's $66.3 billion by 12 per cent.