Building Links Releases Third-Quarter Construction Statistics

Posted on Oct 15, 2018

Building Links, the North Vancouver Island construction report has released its third quarter, year-to-date construction statistics, which compares the permits and construction values for the first 9 months of 2017 and 2018.

They report that total construction values for the Comox Valley and Campbell River now total $223 million for the year, with a $68 million increase from last year, and an $84 million increase from 2016.

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CMHC August Stats for Vancouver Island

Posted on Sep 24, 2018

“The Victoria Census Metropolitan Area (CMA) housing starts trended higher in August on elevated multi-family construction. A large majority of the starts were in Langford, concentrated in rental projects. Year-to-date starts were up 32% in 2018 from 2017,” said Braden Batch, CMHC’s senior analyst. “The increase in starts was not reflected in the single-detached numbers, which were down 5% year-to-date.”

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Vancouver Island Building Permits Top $800 Million in 2nd Quarter

Posted on Sep 9, 2018

Construction activity on Vancouver Island continued at a robust rate during the April to June 2018 period (second quarter) with the total value of building permits issued reaching $806.9 million — a 42 per cent gain over the first quarter of 2018.

Total spending on residential construction spiked 45 per cent Island-wide to $698.2 million while non-residential building construction increased 23 per cent to $108.6 million. Construction employment increased by 8.6 per cent Island- wide in the first half of 2018. Victoria led the way with 1,800 more workers on the job in the second quarter.

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Multi-Family Residential Construction Booming on North-Central Vancouver Island

Posted on Jul 25, 2018

Compared to 2017, the 2018 second quarter construction values for the North-Central Vancouver Island communities of the Comox Valley and Campbell River have increased by 54% or $51 million. Construction of multi-family residential units and commercial builds have contributed to the majority of the increases.

Multi-family residential units, including duplexes and triplexes, surged ahead with 139 units for Courtenay (22 units last year second quarter), 109 units for Campbell River (49), and 23 units for Cumberland (the first multi-family builds since 2011).

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Home Sales Are Down, But Prices Are Up on Vancouver Island

Posted on Jul 13, 2018

Housing demand has decreased in the Vancouver Island Real Estate Board (VIREB) area, which ranges from Duncan to Port Hardy, in the first half of 2018. Despite lower sales to date, lack of inventory continues to tilt the market in favour of sellers and move prices up.

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