Your Weekly North Vancouver Island Construction News
In This Week’s Editor’s Note
We feature the first quarter construction statistics for 2019 in this week’s issue. There has been an increase of 20% in overall construction values in the Comox Valley and Campbell River areas in 2019 compared to 2018. Total construction values for the first quarter of 2019 total $71,624,688 compared to $59,623,110 in 2018. The rise of construction in all categories for Courtenay has been a driving factor for the increase.
Courtenay reported the highest increase (91%) in total construction value, with the largest increase due to multi-family builds, and renovations in both the commercial and residential categories. Other municipalities reported a moderate increased from 2.6% to 8.9% while the Comox Valley Regional District (CVRD) reported a 15.6% decline due to a reduction in commercial permits. When comparing the CVRD’s residential values without commercial, CVRD reports an 11% increase.
The overall construction value increase of 20% in 2019 compared to 2018, is slightly lower than the 28% increase reported when comparing the first quarter of 2017 to 2018.
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