Value of building permits shoots up 37% in B.C.: Statistics Canada

New data from Statistics Canada shows British Columbia is leading the provinces when it comes to the rising value of residential construction permits.

The report shows the value of residential permits climbed 37.2 per cent for September compared to August as the value in the province climbed to $1.48 billion. The value is also up eight per cent compared to a year ago.

The data also shows that 77.3 per cent of the added value comes from projects in Vancouver, Kelowna and Victoria, as the three cities represent 79.9 per cent of the new housing projects authorized in the province last month.

Newfoundland and Labrador, Prince Edward Island and Nova Scotia each also saw more than 10 per cent gains in permit value for the month.