December 03, 2015 - 10:27 AM
KAMLOOPS – November is the first month this fall to see an increase in the number of building permits issued in Kamloops.
After a strong start to the year, October and September saw a drastic drop in building permits, building starts and construction values across the board.
There were 17 single family housing permits issued in November, four more than the 13 issued during the same month last year. Permits for multi-family housing dropped right off with just two issued last month, as compared to 26 in November of 2014.
The city issued 38 residential permits for new units, additions and alterations in November compared with 52 issued during the same month last year. The most notable variance being the difference in construction values, with last year’s permits estimated at over $11 million and this year just under $6 million.
Kamloops is still ahead of last year when it comes to the total number of residential building permits issued, but the difference continues to grow smaller and smaller each month. In total, the city has issued 493 permits this year, just 37 more than by November of last year.
There were 124 permits issued last month, with a value of roughly $9.3 million. By comparison, in November 2014 there were 131 permits issued at a value of about $12 million.
Year-to-date, 1,584 permits valued at roughly $165 million have been issued by the city. During the same time period in 2014, 1,505 permits were issued, but at a considerably greater value of $184 million.
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News from © InfoTel News Ltd, 2015