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Residential construction is booming in the City of Kamloops in 2015 as 28 new residential unit permits were approved in January.
While January 2014 had only five residential units approved, January 2015 saw six new single family unit, two additions to properties and 20 multi-famly units approved by the City.
These residential permit values presently stand at $7.4 million in January 2015 while January 2014 they were $1.05 million. Meanwhile the commercial unit permit values year to date presently is $889, 752.
Landlords and new property owners from throughout the city are gathering on Wednesday to learn about ways to protect their investment as well as allow more low income residents get housing. The HomeFree Collection is an initiative through the City of Kamloops to help end homelessness in Kamloops.
Here is how residential permit numbers compare year to year in the first month of the year:
2015: 46 permits valued at $7.48 million
2014: 6 permits valued at $1.06 million
2013: 23 permits valued at $2.37 million
2012: 25 permits valued at $3 million
2011: 24 permits valued at $3.28 million
2010: 33 permits valued at $4.88 million
2009: 14 permits valued at $2.04 million
2008: 61 permits valued at $10.81 million
January numbers give local realtors and property owners opportunism about the market in the year ahead.
Photo Credit: KamloopsBCNow