Building permit values in Abbotsford shot up 131 per cent in April 2013 from March, led by a soaring jump of 486 per cent in residential permits, according to Vancouver Regional Construction Association’s analysis of Statistics Canada Building Permit Report.
Seasonally adjusted total building permit values in Abbotsford climbed in April to $24.6 million from $10.7 million in March.
“Abbotsford saw a second month of increases in permit values in April, mostly on the strength of residential permit values,” said Jan Robinson, interim president of the VRCA.
“Commercial and industrial permits also increased, but no public permits were issued in April, and government permits will likely see a decline for the year since no major project is currently waiting in the wings.”
Seasonally adjusted non-residential permit values dropped 37 per cent to $4.6 million from $7.3 million in March. Commercial permits edged up four per cent to $3 million in April; industrial permits jumped 66 per cent to $1.6 million, while no institutional government permits were issued in April. The seasonally adjusted value of residential permits climbed to $20 million in April from March’s $3.4 million.
VRCA’s outlook for 2013 for Abbotsford is mixed but slightly positive, with total permits likely to remain below the past 10-year average.