February 7, 2011
Statistics Canada is reporting that the national value of building permits increased 2.4 per cent to $5.7 billion in December, snapping a two-month downward trend.
And, no surprise to anyone who has walked around the GTA lately, the increase is mainly attributed to higher construction intentions for multi-family dwellings in Ontario.
Specific to the residential sector, the value of permits rose an impressive 21.2 per cent to $3.8 billion in the same month. Seven provinces joined Ontario in registering gains.
For 2010 as a whole, Canadian municipalities issued 19.8 per cent more building permits than they did in 2009, for a total value of $73.1 billion.
Breaking the numbers down by metropolitan area, Toronto posted the largest gain in building permits being issued, followed by Kitchener-Cambridge-Waterloo and Calgary.
Keep checkin’ in with BuzzBuzzHome to find out what those permits are used to build!