Kelowna passes $1B mark in building permits

For the second year in a row, the City of Kelowna has issued more than $1 billion in building permits.

As of today, Nov. 17, permit values are at $1,054,988,547, which is about $50 million less than on the same date last year and $62 million shy of the $1,117,511,226 record set for all of 2021.

All the other major cities in the region are exceeding last year’s pace of construction.

READ MORE: Worst of slowdown in Canadian real estate market appears to be over: CREA

By the end of October, Kamloops had issued permits worth $365,269,229, more than double last year’s $157,484,402.

West Kelowna issued $202,171,815 worth of permits this year versus $187,376,612 last year, by the end of October.

Vernon was at $182,256,904 this year versus $139,258,902 last year while Penticton reached $170,437,352 by the end of October 2022 versus $152,476,218 last year.

There were $2.42 billion worth of building permits issued in the Thompson-Okanagan by the end of September, a 10.3% increase from last year, according to a Government of B.C. website.

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