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July 7, 2008-NEWS RELEASE
ICBA Commentary: Building Permits
VANCOUVER -- The Independent Contractors and Businesses Association (ICBA) offered the following commentary on today's Statistics Canada release of the building permit survey for May 2008.
“It’s not surprising to see a strong increase in planned non-residential construction activity, while the value of residential building permits is falling,” said Philip Hochstein, President of the ICBA. “We’ve had six years of strong growth in residential construction, and now we need infrastructure to service all these residential areas.”
Hochstein said this enormous growth in residential construction in recent years created an infrastructure gap, and now the market is responding by planning non-residential construction projects, such as schools, community centres and office complexes.
Hochstein added that B.C. continued to outperform the national average in terms of planned building activity. "While most provinces are seeing declines in planned building activity, B.C. is bucking the trend and seeing an increase."
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About ICBA
ICBA services and represents B.C.’s construction sector. ICBA’s members — who include both the Industrial, Commercial and Institutional (ICI) and residential construction sectors — are involved in virtually all major capital projects in British Columbia. www.icba.ca.
For more information, contact:
Philip Hochstein, President of the ICBA
Tel: 604-561-9402
| ICBA is the voice of BC's construction industry. For further information, or if you have any questions or comments regarding this article, please contact ICBA. |
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