After three consecutive years of strong construction activity, Summerland is seeing a slowdown in the number and value of building permits issued.

The most recent figures from Summerland91裸聊视频檚 Department of Development Services showed the municipality issued 21 building permits in October, with a total construction value of $5,142,500. A year earlier, in October 2023, the municipality issued 23 permits with a total construction value of $7,182,900.

October building permit figures have fluctuated in recent years. In October 2020, the municipality issued 31 building permits with a total construction value of $7,976,000, while in the same month in 2021, the municipality issued 18 building permits with a total construction value of $3,596,800.

In a report to Summerland council, Brad Dollevoet, director of development services, said the department received five pre-application inquiries in October. 

Some of the applications are substantial in scope and nature, with multi-lot neighbourhood subdivisions, complex building projects or land areas for potential development, he said. 

These free application processes take significant staff time, however, they usually provide better information to applicants at the start of an application process, Dollevoet said.

While Summerland91裸聊视频檚 building permit figures were down in October, the monthly comparison does not show a complete picture. The municipality also has statistics showing the total number of building permits issued from January to October.

This year, 155 building permits were issued with a construction value of $29,199,062. This is close to the 2020 figures when 149 permits with a total construction value of $27,610,600 were issued.

In 2021, 2022 and 2023, the number of building permits issued in the first 10 months of the year was higher, and the total construction value was significantly greater.

From January to October 2021, Summerland issued 174 building permits with a total construction value of $54,146,300. In the same time frame in 2022, there were 202 building permits issued, worth $46,082,000 and in the same period of 2023, Summerland issued 167 permits, worth $44,110,023.

91裸聊视频淭o the end of October, the amount of construction value and therefore building permit revenue in 2024 has not kept pace to recent years in Summerland,91裸聊视频� Dollevoet said.

91裸聊视频淵ear-to-date to the end of October for 2021 to 2023, the average total construction value experienced was $48,112,774 and in 2024 the year-to-date construction value was $29,199,062. This is a difference of nearly $20 million and is indicative of a slowdown occurring in 2024.91裸聊视频�

He said high interest rates, tight lending conditions, high construction costs and a lower demand for new housing units were factors contributing to this slowdown.