It was a banner year for the value of residential building permits across Canada in 2020, despite early concerns the pandemic would devalue housing prices and shut or slow down construction. 

According to the most recent data from Statistics Canada, British Columbia led the pack with a 27.8 per cent increase in the value of residential building permits in November over the month before. Across the country, their value rose 10 per cent in November to a total of $6.4 billion compared to the previous month.

Nationally, the value of residential building permits increased 34 per cent compared to the same time last year. 

The data shows the seasonally adjusted value of building permits — not actual construction starts, or the number of housing units — which is the estimated cost of completing the project. Every province except Nova Scotia and Prince Edward Island showed a monthly increase in the value of residential building permits. 

Statistics Canada economist Michael Straw says a few major projects in Vancouver and on Vancouver Island helped push the data in B.C.’s favour in November, including a $25-million apartment complex in Surrey and a $23-million complex in East Vancouver. Ontario also showed strength in this sector, with near-record highs in the past four months. 

Ben Taddei, chief operating officer of B.C.-based real estate developer Conwest Group, says 2020 was a good year for his business. 

“We’re lucky and we’re humbled by the fact that we can keep operating in such a difficult time for so many people,” Taddei said.  

Unlike Ontario and Quebec, B.C. never shut down the construction sector in order to mitigate the spread of COVID-19.

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