Non-residential construction continues to lead the way in B.C. with 54 per cent growth in February 2011, according to building permit numbers recently released by Statistics Canada.
“Construction customers have seen the value in construction pricing in the marketplace right now and they’re seizing that opportunity to get building,” said Philip Hochstein, president of the Independent Contractors and Businesses Association of B.C.
Hochstein said the good values to be had in construction can be found a recent BTY Group report on construction cost pressures, combined with ICBA on research on wages. ICBA’s wage survey showed expected increases of 2.15 per cent this year and 3.47 per cent in 2012.
On a month to month basis, the value of building permits issued in February 2011 remained steady at just under $450 million. In the non-residential sector they jumped from $118 million to $152 million.
“Construction plays a bigger part in B.C.’s economy than in any other province,” Hochstein added. “This up-tick in permits is a strong sign that our economic recovery is on track.”
— Independent Contractors and Businesses Association