Building values climb back above $10 billion

Subscribe to the OCN Daily Newsletter!

Receive a free update of the latest Ontario Construction News each morning

Ontario Construction News staff writer

The total value of building permits issued last month jumped 6.9 percent and pushed the total over $10-billion following a decline in May. In Ontario, the increase was 22.7 per cent, Statistics Canada has reported.

According to the report, the residential sector in Ontario increased 9.1 percent to $7.2 billion due to strong demand for multi-unit buildings in Toronto and Hamilton. Overall, multi-family units were up 13.5 percent to $3.7 billion.

One of the largest increases showed the value of multi-family projects in Ontario up more than 67 per cent, reaching $1.8 billion. In Quebec, the same sector dropped 30 percent in June.

Single-family dwellings increased 4.7 percent to $3.4 billion with the largest gain in Ontario.

Also, the non-residential sector increased by 2.2 percent to $3.1 billion with eight provinces reporting growth.

Commercial permits were up 7.4 percent to $1.7 billion and high-value permits, in  Ontario showed an increase of 16.2 per cent. Six provinces recorded increases in industrial permits, including Ontario with a 37.8 per cent jump.

The value of building permits issued in the first quarter of this year was the second highest on record and 38.5 percent above the same period 2020, was

Second-quarter values exceeded values in the first quarter of 2020, but non-residential permits remained below the quarterly levels of 2019.d

LEAVE A REPLY

Please enter your comment!
Please enter your name here

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.