Surrey in 2019 set a new record in building permit values issued by the municipal government, according to a release issued by the City of Surrey today.
Last year, the total construction value exceeded $2.29 billion, representing an increase over the previous record total of $1.52 billion set in 2018.
Throughout 2019, $1.57 billion came from residential permits for 6,632 new dwellings. Permit wait times for single-family dwellings went down to 10 weeks by the end of 2019, compared to 25 weeks in 2017.
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Altogether, the year saw a total of 16,498 building, plumbing, and electrical permits.
“The economic confidence in Surrey has reached new heights and breaking the $2 billion mark in building permits is uncharted territory for our city,” said Surrey mayor Doug McCallum.
“The livability, affordability and recreational amenities that Surrey offers have established this city as a place where you can raise your family or grow your business. With the new Surrey SkyTrain extension on the horizon and with Council’s Smart Development initiatives, Surrey will be a prime destination for new residents and businesses for years to come.”
In contrast, the City of Vancouver saw $4.04 billion in building permit values in 2019, including the creation of 5,221 new residential dwellings. But as a result of the downturn, this was down from 2018’s total of $5.04 billion and 7,466 new residential dwellings.