The Cost Of Building Permits In The City Of Vancouver Are At An All Time High
Those considering long distance moving to Vancouver and to call it home, may want to reconsider. In the first six months of 2014 the city of Vancouver issued over $1 billion in building permits. This is the highest since before the recession took place. For three straight years construction has been leading the way for the first six months of all three years. It has topped the billion dollar mark each time.
In the first 6 months of this year the value of building permits has increased by 6.7 percent from what it was during the same time last year. Anytime an economy grows at such a strong pace it is a very exciting thing – but makes it difficult for house buyers to jump in.
According to Vancouver movers, EasyCdnMoving, Low taxes, the big pool of highly skilled workers, less obstacles to secure a permit and the amount of new rental housing construction taking place in the area. The Vancouver Economic Action Strategy works to do a variety of different things. The first one is to create thousands of new jobs for the people of Vancouver. The second is to create affordable housing.
To do this they have to learn how to work with different companies and bring in new business. The initiatives the city has in place are helping to do just that. The other two things the Vancouver Economic Action Strategy work to do are make the city more competitive and build a foundation for the economy to continue to grow.
If you look back you will see in 2008 the building permit values for the first six months of the year were $924.9 million. It is now $1.12 billion. That’s a huge jump in just 6 short years.
There are two key developments that contributed to these values. The new two tower building in downtown which was valued at $87 million and the new 195 unit on Main St. that was valued at $27 million. Based on the values of building permits going up every year for the last 6 years, I would say moving to Vancouver is going to be tougher than ever.