Construction boomed earlier in the year in Penticton, but now looks to have calmed down. (Pixabay photo)

Construction boomed earlier in the year in Penticton, but now looks to have calmed down. (Pixabay photo)

Penticton on pace to more than double construction rates from last year in 2021

2021 has already seen more construction than 2020, year looks more akin to previous building booms

With half the year gone, Penticton’s building industry has seen a return to previous highs.

After the first six months of 2021, Penticton is on track to have a similar year to 2017 and 2018 according to the city’s monthly building reports, having already outperformed the entire year of 2020.

In 2021, there were 553 permits issued for construction by the city, with 385 new residential units created. By comparison, 2020 saw 331 permits issued, creating 241 new residential units, 2019 saw 382 permits and 421 residential units, 2019 had 550 permits with 353 new residential units and 2017 had 543 with 254 new residential units.

READ MORE: Penticton’s construction industry is booming

The industry has slowed down since the end of April. At that point, 2021 had seen over 50 percent more building permits issued than in the previous four years.

The permits issued so far in 2021 add up to a construction value of $121,964,067, higher than every year since 2017’s $132,847,012.

For the entire year of 2020, there were 731 permits issued for a value of $99,236,906.

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