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December 7 , 2009
ICBA Commentary: Building Permits October 2009
The Independent Contractors and Businesses Association (ICBA) offered the following commentary on today's Statistics Canada release of the building permits survey for October 2009.
“The continued declines in building permits are troublesome, because our industry is at its most competitive right now,” said Philip Hochstein, President of the ICBA. “Prices for construction services have now hit the bottom, so now is the time to take advantage before things get busy again.”
Hochstein added that ICBA’s own surveys of the construction industry show that about a third of contractors expect work volume to increase next year, while nearly half think work levels will stay the same in 2010. As well, wages are expected to be down from a year ago, with some trades expecting drops from 2-17 per cent.
“BC contractors have capacity now for new work, but by 2011, will likely see activity and costs start to return to normal levels,” he said. “If purchasers of construction services were waiting for prices to bottom out, the waiting is over, and now is the time to build.”
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Additional information:
The following chart, based on ICBA surveys, illustrates wage expectations from BC contractors over time:
| |
2002 |
2006 |
2009 |
2010 |
Superintendents |
$5,001 |
$5,814 |
$6,796 |
$6,617 |
Estimators |
$4,754 |
$5,110 |
$6,184 |
$5,109 |
Project Managers |
$5,821 |
$6,225 |
$7,032 |
$6,351 |
Media contact:
Philip Hochstein, President
P: 604-298-7795
C: 604-561-9402 |
About ICBA (www.icba.ca)
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. |
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