Kamloops building starts continue to decline in October | iNFOnews | Thompson-Okanagan's News Source

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Kamloops building starts continue to decline in October

November 03, 2015 - 5:30 PM

KAMLOOPS - September marked the beginning of a building permit decline in Kamloops and this month continues the trend with the number of permits, starts and construction values all down from during the same time last year.

After a strong start to the year, October is the second consecutive month to see declines across the board, with the exception of year-to-date permit totals which are still higher in 2015 than 2014. Total construction values, however, are roughly $16,000 less.

There were 21 single family housing permits issued in October, only a small difference from the 24 issued in this time last year. Permits for multi-family housing dropped right off with just two issued last month, as compared to 15 in October 2014.

The city issued 47 residential permits for new units, additions and alterations in October compared with 59 issued during the same month in 2014.

Kamloops is still ahead of last year’s residential permit totals, but the gap continues to close with each month. In total the city has issued 455 residential permits this year, 51 more than during in the first 10 months of 2014.

There were 145 permits issued last month, with a value of roughly $7.9 million. By comparison, in October 2014 there were 190 permits issued at a value of $17 million.

Year-to-date, 1,460 permits valued at roughly $156 million have been issued. By comparison, 1,374 permits were issued during the same time period in 2014, but at roughly $172 million, for a considerably greater value.

To contact a reporter for this story, email Dana Reynolds at dreynolds@infonews.ca or call 250-819-6089. To contact an editor, email mjones@infonews.ca or call 250-718-2724.

News from © iNFOnews, 2015

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