February 4 , 2010

ICBA Commentary: Building Permits December 2009

The Independent Contractors and Businesses Association (ICBA) offered the following commentary on today's Statistics Canada release of the building permits survey for December 2009.

“British Columbia is seeing construction projects rising, especially in the residential sector, and it’s a sure sign that things are returning to normal activity levels --- not the overactive market we had in the last decade, but also not the slowdown we’ve experienced in the past year,” said Philip Hochstein, President of the ICBA. “Residential construction is crucial to leading growth in industrial and commercial building.”

Hochstein noted that ICBA’s recent report on construction costs shows that costs of almost all types of construction projects declined significantly in 2009 relative to 2008, but that they will begin rising again in 2010. “I would recommend clients lock down contracts and get building as soon as possible. There has never been a better time to build,” he said.

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