Monday, January 21, 2013

City of Vancouver Permit Update for November 2012

I have been producing some graphs starting in early 2009 showing the trend of permits in the City of Vancouver. Here is an update to November 2012.

Residential dwelling permits graphed since 2007:
Permits parsed for 1-2 dwelling units only (i.e. single family, single family with suite, and duplex):
Multi-unit building permits:
All permits' value, residential and commercial:
Value per permit, multi and 1+2:
There seems to be no slowdown in construction activity for the next while.

Below are 12 month moving average 1+2 dwelling permits plotted with the Teranet HPI. There is a 6 month shift in permit data due to the 12 month averaging filter; if one accounts for that the correlation is 0.95. Something to think about.
(Note: graph not started from zero to highlight correlation)

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