Changing costs in B.C. drive April building permits

OTTAWA — Canadian municipalities issued a record $9.3 billion worth of building permits in April, according to StatCan. The increase in the value of permits was almost entirely due to a planned change in development costs in Metro Vancouver. Nationally, the value of permits was up $1.2 billion, the largest increase since May 2007. Although six provinces reported higher values, B.C. accounted for most of the gain. This was due to permits being issued ahead of the development cost increase in Metro Vancouver in May, the first change in costs in that region since 1997. Meanwhile, Quebec reported the largest decline, down $147 million from March. For the first time, industrial permits surpassed the half-billion dollar mark.