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October building boom pushes Â鶹´«Ã½Ó³»­permits to $1.13B, says StatCan

Â鶹´«Ã½Ó³»­building permit values make 14% jump
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Building permit values in Â鶹´«Ã½Ó³»­went up 35.1 per cent from September to October 2024, according to Canada's national statistics agency.

The value of building permits in Â鶹´«Ã½Ó³»­rose 13.7 per cent in October compared with the same month a year ago, according to Statistics Canada.

StatCan data revealed Thursday that preliminary building permit values in the region totalled about $1.13 billion in October 2024 compared with $991 million in October 2023. 

Looking at month-over-month data, building permit values in Â鶹´«Ã½Ó³»­went up 35.1 per cent from September to October 2024.

Preliminary building permit values across B.C. totalled about $1.87 billion in October 2024, a 6.8-per-cent increase from October 2023 and a 27.7-per-cent increase from September 2024. 

The provincial data is broken down into residential and non-residential building permit values.

Representing a majority of the total, residential permit values in B.C. were down 3.2 per cent compared to October 2023. Non-residential values, meanwhile, increased 42.9 per cent to $544.4 million.

Nationally, the total value of building permits issued in Canada decreased by $399.1 million (-3.1 per cent) to $12.6 billion in October, compared with the month before. However, there was an 11.6-per-cent increase nationally compared with October 2023.

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