Building permit values in Abbotsford rose 69 per cent in March 2013 from February, led by a sharp rebound in non-residential permits, according to the Vancouver Regional Construction Association’s analysis of Statistics Canada Building Permit Report.
Seasonally adjusted total building permit values in Abbotsford climbed in March 2013 to $10.7 million from $6.4 million in February 2013.
“Abbotsford saw a rebound in permit values in March, mostly on the strength of non-residential permit values, with the largest percentage gain in industrial permits and the largest dollar gain in commercial permits over February.” said Jan Robinson, interim president of the VRCA.
“Commercial permits rose for the second straight month, but no significant or sustained uptrend is likely until market conditions are much tighter.”
Seasonally adjusted non-residential permit values shot up 166 per cent to $7.3 million from $2.7 million in February. Commercial permits climbed to $2.8 million in March.