Building permits up in Ottawa, down nationally.
November 7, 2005 - trong growth in non-residential construction has resulted in a 10.7 per cent increase in building permits issued by the city of Ottawa so far this year.
Statistics Canada says the value of non-residential permits has almost doubled to $799 million this year. Industrial permits are up 212 per cent which institutional permits are up 450 per cent compared to the first nine months of 2004.
The solid growth in the non-residential sector has offset a sharp decline in new home construction. The value of residential permits issued during the first nine months of the year fell 26.6 per cent to $665 million, reflecting the slowdown in new home construction. Both single-family and multi-family permits declined sharply.
For the month of September alone, the city issued $178 million worth of building permits, 37 per cent less than in August.
Nationally, the value of building permits issued in September fell 5.3 per cent, slightly more than analysts had expected. Contractors took out $5.1 billion in permits in September.
The national results are in sharp contrast to local building activity. While Ottawa builders are busy on non-residential work, the value of non-residential permits fell 17 per cent nationally in September. And strong housing starts are pushing up the value of permits issued in other regions, especially Alberta and British Columbia.
In the housing sector, municipalities issued $3.3 billion in permits in September, up 3.2 per cent from August, with gains in both the single- and multi-family components.
© Copyright Ottawa Business Journal 2005