In This Week’s Editor’s Note
We feature the first quarter construction statistics for 2019 in this week’s issue. There has been an increase of 20% in overall construction values in the Comox Valley and Campbell River areas in 2019 compared to 2018. Total construction values for the first quarter of 2019 total $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.
Courtenay reported the highest increase (91%) in total construction value, with the largest increase due to multi-family builds, and renovations in both the commercial and residential categories. Other municipalities reported a moderate increased from 2.6% to 8.9% while the Comox Valley Regional District (CVRD) reported a 15.6% decline due to a reduction in commercial permits. When comparing the CVRD’s residential values without commercial, CVRD reports an 11% increase.
The overall construction value increase of 20% in 2019 compared to 2018, is slightly lower than the 28% increase reported when comparing the first quarter of 2017 to 2018.
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