Surrey single-family builds down, multi-family housing up

Surrey city council reported a 40% increase in residential dwelling unit permits in the first nine months of 2024, alongside a 22% decrease in new single-family home construction. Multi-family unit permits surged by 53%, reflecting strong development activity in both low-rise and high-rise apartments. Additionally, there was an increase in permits for industrial, commercial, and institutional developments. The city's financial performance remains strong, with departments managing their budgets effectively to meet year-end targets.