{"id":12283,"date":"2019-04-23T10:10:34","date_gmt":"2019-04-23T17:10:34","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12283"},"modified":"2019-04-12T08:55:53","modified_gmt":"2019-04-12T15:55:53","slug":"average-construction-start-value-down-70-from-peak","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/04\/average-construction-start-value-down-70-from-peak\/","title":{"rendered":"Average Construction Start Value Down 70% from Peak"},"content":{"rendered":"

BC’s average construction start value for projects over $50 million fell 30.7% to $197 million in 2018 from $284.9 million in 2014, according to data on Business in Vancouver\u2019s list of the biggest BC construction starts in 2018.<\/p>\n

However, the five-year analysis understates the volatility of the province\u2019s high-value construction starts. In 2015, average construction start values spiked to $668 million, more than doubling the average value in 2014. The province has been unable to match the 2015 peak since.<\/p>\n

In, 2016, the average construction start value crashed, falling 70.4% to $193.1 million.<\/p>\n

While the average deal value has grown just 2% from its 2016 low, the median has suggested a different trend.<\/p>\n

After falling 51.7% to $95 million in 2016 from its 2014 high of $196.5 million, median construction start values began to rebound. While not recovering to its 2014 peak and reporting a five-year decline, the median construction start value in 2018 has rebounded 36.8% from its 2016 low to $130 million.
\n\"\"<\/a>
\nThis suggests that the construction starts lower on the list have experienced greater growth in recent years than larger-value construction starts higher on the list.<\/p>\n

Typically, the Lower Mainland has most of BC\u2019s high-value construction starts. As a result, the region usually has the highest total construction start value. This holds true with the exception of 2016, when a heavy concentration of high-value projects in northern B.C. allowed the region to boast the highest total value of construction starts at $1.79 billion. This more than doubled the Lower Mainland\u2019s total construction start value of $816.4 million.<\/p>\n

However, despite northern BC\u2019s strong performance in 2016, it appears to have been an anomaly as the region had no high-value construction starts in 2018 and only one in 2014, valued at $90 million.
\n\"\"<\/a>
\nAlthough the Lower Mainland experiences, for the most part, the highest total value of construction starts, the average value tells a different story. Vancouver Island had the highest average construction start value in 2014 and 2018; Vancouver took second place.<\/p>\n

The Fraser Valley posted both the lowest total and the lowest average values for construction starts. Nevertheless, it\u2019s been the only region with consistent growth over the five-year period covered by BIV\u2019s list. It can also claim to be the region with the greatest amount of growth, increasing 143% to $158 million in 2018 from $65 million in 2014. The Fraser Valley and Vancouver Island were the only regions to report average construction start value growth since 2016.<\/p>\n

Average Construction Start Value Down 70% from Peak<\/a> by Albert Van Santvoort | Business in Vancouver<\/p>\n","protected":false},"excerpt":{"rendered":"

BC’s average construction start value for projects over $50 million fell 30.7% to $197 million in 2018 from $284.9 million in 2014, according to data on Business in Vancouver\u2019s list … [read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-12283","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"\nAverage Construction Start Value Down 70% from Peak • Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/04\/average-construction-start-value-down-70-from-peak\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Average Construction Start Value Down 70% from Peak • Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"BC’s average construction start value for projects over $50 million fell 30.7% to $197 million in 2018 from $284.9 million in 2014, according to data on Business in Vancouver\u2019s list … [read more]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/04\/BC-construction-1.png\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" 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