Surrey – You read that right. BILLION !
The City of Surrey set a new record in building permit values issued in 2019. The total construction value exceeded $2.29 billion last year, which is 33% higher than the previous record total of $1.52 billion from 2018.
In 2019, $1.57 billion of the construction value came from residential permits which translated to 6,632 new dwellings that will be built in Surrey.
“The economic confidence in Surrey has reached new heights and breaking the $2 billion mark in building permits is uncharted territory for our city,” said Mayor Doug McCallum. “
While the Planning and Development Department issued a total of 16,498 building, plumbing and electrical permits in 2019, staff managed to reduce the wait time for single family dwelling to 10 weeks by the end of the year. In comparison, the wait time for a single family dwelling permit peaked at 25 weeks in 2017.