FORT ST. JOHN, B.C. – Though things began to look promising for the city of Fort St. John’s construction numbers last month, the value of construction dropped nearly $1,500,000 between May and June of this year.
The June report, which was released today, shows that once again 13 building permits were issued last month, with increase in the number of dwellings compared to May, up from 5 to 8. The difference in the dollar amount from May to June was largely due to the drop in the value of commercial properties from nearly $6.150 million to only $2.375 million. The drop in values could have been more, but was made up for by the value of duplex construction starts in the city nearly doubling, from $1.498 to $2.983 million.
That leaves a year-to-date value of construction at the year’s halfway mark of just over $23.4 million, roughly 26.5% the value of the same time period in 2015, which was $88.2 million. The largest declines in the value of residential construction are in the Single Family, and Multiple Family dwellings. Those saw year-to-date decreases from last year of roughly $16 million, and $31.9 million respectively, with zero multiple family dwelling permits issued this year, compared to 23 last year. It is interesting to note that the value of Duplex construction has actually increased from 2015 over $1.1 million.
While the numbers haven’t, the value of Commercial construction has also plummeted. 2016 has seen only one fewer Commercial permit issued compared to 2015, when twenty-five commercial permits were issued. Despite this, the difference in the year-to-date value of commercial construction in Fort St. John is nearly equal to that of single-family detached homes: a $15.9 million drop.
City Hall revenue from the thirteen permits that were issued last month was also down from May: the city made a total of $33,595, close to one quarter of the $119,105 earned from permits so far.