The value of building permits in Vancouver 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 Vancouver 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.
