Building permits across Vancouver Island rose six per cent to $648.1 million in the second quarter of 2019 compared to the first quarter.
For the second year in a row, construction on Vancouver Island set records with building permits increasing nine per cent to $2.45 billion in 2018.
Building permits on Vancouver Island reached the highest dollar value ever recorded in the July to September 2017 period.
The total value of building permits rose 14.8 per cent in June to $7.7 billion, following a 13.9 per cent drop in May, reports Statistics Canada.
Canadian Apartment Magazine
The City of Vancouver issued $2.83-billion in building permits last year, exceeding previous records set before the recession in 2008. Building permit values increased 28 per cent, year-over-year, from 2013 and 77 per cent from 2008. Several multi-family rental developments were key contributors to the substantial gain.