The number of building starts in Greater Victoria took a significant jump in the second quarter of 2018 over the previous three months. Don Denton/Victoria News

HOMEFINDER: Capital Region pace of construction continues to grow

Greater Victoria’s 47-per-cent jump in building permits issued second on Island to Nanaimo

One doesn’t have to travel far around Greater Victoria or Vancouver Island to witness the construction boom happening on various fronts.

The numbers in a new report from the Vancouver Island Construction Association bear that out, however.

It showed that construction activity on the Island in the quarter from April to June increased 42 per cent over the previous three-month period this year.

The total value of building permits issued reached $806.9 million, with projects in the Capital Region playing a large role in that growth.

Greater Victoria jurisdictions saw a 47-per-cent increase in the total number of building permits issued, over the period from January to March. That growth rate was second only behind the Nanaimo Regional District, which experienced a 48-per-cent jump.

“We’ve had a very busy year so far which is a sign of economic strength and an upswing in population growth,” said association CEO Rory Kulmala in a release. “Vancouver Island continues to be an attractive place to live and to invest.”

Residential construction accounted for most of the total investment, with an Island total of $698.2 million representing a 45-per-cent boost from the first quarter numbers.

The number of commercial projects also jumped, with the $108.6 million total showing a 23-per-cent increase.

Spending on non-residential projects in the Victoria Census Metropolitan Area were a modest one per cent higher than the previous quarter, but for the first half of the year, they were up 16 per cent over the same period in 2017.

Construction employment has increased by 8.6 per cent Island-wide in the first half of 2018, with Greater Victoria leading the way with 1,800 more people added to the workforce in the second quarter.

“By the end of 2018, I think we’ll see total building permits increase by about 20 per cent with construction employment up another three per cent or more,” Kulmala said.

editor@vicnews.com

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