New statistics show an increase of 1.6% per month in relation to permit value for residential buildings in Canada, with Ontario as the clear leader for both single-family & multifamily permits since January. In Toronto, the value for multi-family dwellings rose from 26.5% to $871 million which was the second highest value on record!
Since December, multi-family permit approvals have increased by 3.5%, totalling to 21,192. Single family home approvals decreased by 2.3% from the previous month.
As for non-residential permits, the drop was pretty significant with a total of $3.0 billion down 15.8% from December, which resulted from lower construction intentions from commercial buildings. The total value for all permits issued in January for both residential & non-residential was $8.4 billion in January, down from 5.5% from December’s record high.
Whether you are looking to invest or to buy the perform home for you and your family, do not hesitate to call us! We have agents standing by to answer any of your questions.
Sutton Group Realty Systems Inc., Brokerage
416-896-3333 / 905-896-3333