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Construction starts and real estate sales remain strong

Construction continues to boom in Kamloops.
March 05, 2015 - 11:29 AM

KAMLOOPS - A warm start to 2015 has led to a brisk pace in both residential and commercial construction and the number of building permit issued continues to blow 2014 numbers out of the water.

Permits for residential units increased by 80 per cent in February 2015, compared to the year before, though at $8.3 million the value of those permits were more than triple the year before. Year to date totals for residential permits have the value pegged at $15.8 million already in 2015, compared to just $3.7 million in the first two months of 2014.

Commercial permit values are also so far up this year, with $13.47 million in permits issued in February, putting the year to date totals at more than double the $7.14 million issued in 2014. Building permit values in all categories already total more than $30.8 million in 2015.

February was also stronger when it came to real estate sales in the region. Sales under the Multiple Listing Service totalled more than $52 million for residential units in February 2015, up from just over $37 million in February 2014. In total nearly $96 million in sales have taken place under the service this year, up from $79.5 million in the first two months of 2014.

To contact a reporter for this story, email Jennifer Stahn at jstahn@infonews.ca or call 250-819-3723. To contact an editor, email mjones@infonews.ca or call 250-718-2724.

News from © InfoTel News Ltd, 2015
InfoTel News Ltd

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