Sunday, 6 June 2010

Kelowna housing numbers moving up - Kelowna News - Castanet.net

Positive news about housing numbers.

Kelowna housing numbers moving up
by Contributed - Story: 54969
Jun 4, 2010 / 6:00 pm



Statistics for the first five months of 2010 show an increase in the number and value of building permits processed by the City of Kelowna compared to the same period last year.

“The first five months of 2010 are showing more strength than during the same time last year,” says Chief Building Official Mo Bayat. “The numbers for 2010 are much closer to the average of the last five years than in 2009 – particularly construction values.”

From January 1 to the end of May 2010, the City issued 2,208 permits with a construction value of approximately $153 million. In comparison, the same period in 2009 saw 1,722 permits issued with a total construction value of approximately $104 million. This represents a 28 per cent increase in the number of permits and a 47 per cent increase in construction value in 2010.

Looking back to the first five months of 2006, the City issued 2,877 permits – 669 more than this year. However, the construction value in 2006 was approximately $146 million – $7 million or 4.8 per cent less than in 2010. The higher number of permits in 2006 was mostly due to an additional 479 plumbing permits. These permits do not have a construction value attached to them and therefore, this is a major reason why the significantly higher number of permits in 2006 has resulted in a lower construction value than in 2010.

The number of building permits for new homes was also up in the first five months of 2010. The City issued 136 building permits for new single family dwellings (SFD), compared to 48 SFDs during the same period in 2009. This represents an increase in single family dwellings of 183 per cent compared to this point last year.

There have also been 29 building permits issued for new townhouses totaling 74 new units so far this year. This is the highest number of permits issued for new townhouses in more than five years and the highest number of townhouse units created since 2008.

Another statistic of note from the first five months of 2010 is the 154 lots created to date is more than double the 76 lots created in all of 2009.

Kelowna housing numbers moving up - Kelowna News - Castanet.net

Kelowna housing numbers moving up - Kelowna News - Castanet.net

Trish Cenci
Coldwell Banker Horizon Realty
3A 3185 Via Centrale Kelowna, BC V1V 2A7
Cell: (250) 864 1707 Office 250 765 4282
Website:http://www.mykelownarealestate.com
Email:trishcenci@shaw.ca

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