Value of building permits in the Valley dip
The Vancouver Island Construction Association reported, for the first half of 2018, the value of building permits in the Cowichan Valley was 7 per cent lower than the same period in 2017.
Rory Kulmala said non-residential permits accounted for much of the decline.
However, while the value of non-residential permits fell 39 per cent between the first and second quarter, the value of residential permits edged up 12 per cent.
The value of commercial permits plunged 83 per cent following a spike in the first quarter but Kulmala figured once the dust settles, and as space is taken up, developers will take another look at the capacity needs in the Valley.
The highest growth on the Island was in the Nanaimo Regional District which saw a 48 per cent increase in the dollar value of building permits.