2024 Building Permit Statistics – Comox Valley and Campbell River
Compared to 2023, total building permit values in 2024 decreased last year by 16% from $391 to $328 million and the total number of permits decreased by 7.5% from 803 in 2023 to 743 in 2024. As a further comparison, there were 852 permits issued in 2022.
The decline in the number of permits continues for single-family (detached and suites) with 484 units in 2021, 341 in 2022, 274 in 2023, and 272 in 2024. Commercial permits also decreased by 16% between 2023 and 2024 and residential renovations decreased by 8%.
When comparing detached single-family (SF) construction over the last few years, 2024 had a total of 168 SF Permits, 2023 had 177, 2022 had 236. Secondary suites and secondary detached dwellings are up slightly from 97 to 107 units, with a 5-year average of 100 units annually.
As for multi-family (buildings with 5+ units), permits issued in 2024 account for 175 units, compared to 653 in 2023, 192 in 2022, and 599 in 2021. Since 2017, over 3800 multi-family units have been built within the Comox Valley and Campbell River.
The 2024 provincial changes to property zoning to permit 2+ units on previously single-family lots suggests we’ll continue to see a further decline in detached residential homes.
The 2024 Year End Building Permit Statistics are in this week’s issue. Subscribe now to build your business as BC’s economic growth continues to slow over the next few years.
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