Planned changes to Metro Â鶹´«Ã½Ó³»development costs this past May pushed April building permit values to new heights.
The region issued $1.8 billion in permits this April, up nearly 88 per cent month-to-month and up 131 per cent year-over-year.
In its data release, Statistics Canada said the increase was tied to developers getting ahead of the first cost changes in Metro Â鶹´«Ã½Ó³»since 1997.
The activity meant B.C. nearly doubled its previous record for residential permits. At $2.2 billion for the month of April, residential permits across the province – primarily for multi-family buildings – rose 138 per cent over March, and by nearly 126 per cent over April 2018.
Helped by Metro Vancouver, Canadian municipalities issued a record $9.3 billion in permits, up 15 per cent or $1.2 billion from March.
It is the largest increase since May 2007, according to Statistics Canada. British Columbia accounted for most of the gain.
