By Daryl Major

VI Construction Association says permits at highest level since 2008

Sep 8, 2016 | 4:17 PM

NANAIMO — The CEO of the Vancouver Island Construction Association says he hasn’t seen building activity like this in years.

The association has released a second quarter update and numbers are up across Vancouver Island.

Greg Baynton says building permits are at their highest level since 2008, with a value exceeding $142-million.

He adds a number of sectors are now catching up to the torrid pace of residential construction.

“Right now what we’re seeing this year is it’s right across all sectors. So the commercial sector, non-residential and residential. The industry is literally firing on all cylinders right across the island,” said Baynton.

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And with the draw of retirees and young people to Nanaimo, the mid-island is seen as a key contributor to the industry.

“What I like to look at is the year over year growth, even though this a quarterly report. Year over year, we’ve got a six percent increase in residential permits and 14 percent in non-residential for a net eight overall which is very, very positive. The mid-island, I think, will experience what the rest of the Island will, which is continued growth.”

Baynton doesn’t see any road bumps in the future and expects the strong numbers will continue.

“The Bank of Canada can’t substantially raise interest rates. Of course any rise in rates could impact us a little bit. But only marginally. So we don’t really see anything on the horizon with the exception of one thing and that’s finding the people we need to do the work.”

Baynton says the strong BC economy is a huge part of what is driving permit levels and values up.