{"id":12838,"date":"2019-06-20T11:11:03","date_gmt":"2019-06-20T18:11:03","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12838"},"modified":"2019-06-10T13:40:54","modified_gmt":"2019-06-10T20:40:54","slug":"metro-vancouver-building-permits-leap-131","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/06\/metro-vancouver-building-permits-leap-131\/","title":{"rendered":"Metro Vancouver Building Permits Leap 131%"},"content":{"rendered":"<p style=\"text-align: justify;\">What happened : April saw a burst of building permit activity in Metro Vancouver as developers got ahead of development cost changes.<\/p>\n<p style=\"text-align: justify;\">Why it matters : As a result, BC residential permit values nearly doubled their previous record, and Canadian values hit an all-time high.<\/p>\n<p style=\"text-align: justify;\">Planned changes to Metro Vancouver development costs this past May pushed April building permit values to new heights.<\/p>\n<p style=\"text-align: justify;\">The region issued $1.8 billion in permits this April, up nearly 88% month-to-month and up 131% year-over-year.<\/p>\n<p style=\"text-align: justify;\">In its data release, Statistics Canada said the increase was tied to developers getting ahead of the first cost changes in Metro Vancouver since 1997.<\/p>\n<p style=\"text-align: justify;\">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 \u2013 primarily for multi-family buildings \u2013 rose 138% over March, and by nearly 126% over April 2018.<\/p>\n<p style=\"text-align: justify;\">Helped by Metro Vancouver, Canadian municipalities issued a record $9.3 billion in permits, up 15% or $1.2 billion from March.<\/p>\n<p style=\"text-align: justify;\">It is the largest increase since May 2007, according to Statistics Canada. British Columbia accounted for most of the gain.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/biv.com\/article\/2019\/06\/metro-vancouver-building-permits-leap-131-april\" target=\"_blank\" rel=\"noopener noreferrer\">Metro Vancouver Building Permits Leap 131% in April<\/a> by Hayley Woodin | Business in Vancouver<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What happened : April saw a burst of building permit activity in Metro Vancouver as developers got ahead of development cost changes. Why it matters : As a result, BC &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/06\/metro-vancouver-building-permits-leap-131\/\">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":[13],"tags":[],"class_list":["post-12838","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Metro Vancouver Building Permits Leap 131% &#8226; 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\/06\/metro-vancouver-building-permits-leap-131\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Metro Vancouver Building Permits Leap 131% &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"What happened : April saw a burst of building permit activity in Metro Vancouver as developers got ahead of development cost changes. 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