The City of Penticton saw substantially fewer residential units created in 2020 so far compared to 2019, according to the city’s Dec. 4 building permit summary.
The value of those permits was also half of what was issued in 2019.
The number of permits and their value is the lowest it has been since 2015.
From January to Nov. 30, the permits issued in 2020 totalled $89,530,124 compared to $177,215,159 for 2019, $134,819,251 for 2018, $191,944,662 for 2017, $189,422,172 in 2016 and finally compared to $26,124,347 in 2015.
The city issued only five fewer permits in 2020 compared to 2019, for a total of 674 compared to 679. In 2018 there were 877 permits issued, 1,014 issued in 2017, 743 in 2016 and 573 in 2015.
It’s not just the number of permits that have gone down since the peak in 2017, but the number of residential units that have been created so far this year.
In 2020, there were 317 residential units created by the permits that were issued, compared to 399 in 2019. In 2018, the number of units totalled 476 by this time of the year, 454 in 2017, 375 in 2016 and 145 in 2015.
There were 62 fewer multi-family units created, 14 fewer duplex residential units and four less single-family units created in 2020 compared to 2019.
The largest drops in permit values were in the multi-family residential permits and commercial permits, with drops of $29,476,256 and $25,125,885 respectively from 2019 to 2020.
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