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November 6, 2008
ICBA comments on Statistics Canada release of the building permits survey (September 2008)
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 permits survey for September 2008.
“Given the global financial turmoil and a slowing in the housing market in BC, the sharp decline in residential building permits is no surprise,” said Philip Hochstein, President of the ICBA. “We are pleased to see that the commercial sector rebounded in September after posting declines over the past several months.”
Hochstein added that the construction sector has been overheated and the slowdown means the industry has more capacity to take on projects, both small and major. “Costs are more predictable, more workers are accessible and there is more competition among contractors, making it a buyers’ market for construction projects,” he said.
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For more information, contact:
Philip Hochstein, President of the ICBA
Tel: 604-561-9402
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.
| 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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