For the first quarter of the year, there’s been a 20 per cent increase in construction values in the Comox Valley and Campbell River areas compared to 2018.
Total values for the first quarter are $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, according to Building Links.
Courtenay reported the highest increase — 91 per cent — in total construction value. The largest increase is due to multi-family builds, and renovations in the commercial and residential categories.
Other municipalities reported a moderate increased from 2.6 per cent to 8.9 per cent. The Comox Valley Regional District reported a 15.6 per cent decline due to a reduction in commercial permits. When comparing the CVRD’s residential values without commercial, the district reports an 11 per cent increase.
The overall construction value increase of 20 per cent is slightly lower than the 28 per cent increase reported when comparing the first quarter of 2017 to 2018.