Blog  //  Building permits beat expectations: Stats Can

14 Apr. Posted by Ryan Crane in Oakville Homes | 0 comments
Oakville Homes

The figures for building permits actually surpassed analysts’ expectations for February, according to the latest data from Statistics Canada.

Building permits issued jumped 9.9% from January, which was well above the analysts’ predictions of between 1%- 1.4% for February. Municipalities granted building permits totalling $5.8 billion in February.

Stronger than expected activity in the non-residential sector pulled up the market as a whole, offsetting declines in residential market activity. These gains were mostly centered in Alberta and Ontario. The 'Oakville Real Estate' building permits issued were not specified in the report released.

Breaking down the sectors specifically, the value of permits in the non-residential sector for February was $2.8 billion – which is up a staggering 72.9% over January. Five other provinces also posted gains in the non-residential sector, including British Colombia, Manitoba and Prince Edward Island.

Nationally, the report says, “municipalities approved the construction of 13,488 new dwellings in February, down 24.6%. The decrease was largely attributable to multi-family dwellings, which fell 36.6% to 6,690 units. Single-family dwellings declined 7.3% to 6,798 units.”

The total value of permits was up in 23 of the 34 metropolitan areas surveyed, led by increases in Calgary, London, Kitchener–Cambridge–Waterloo and Edmonton. 'Oakville Real Estate' permits were included in the study but not released specifically, or highlighted in the report.

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14/04/2011 – The article was posted by Ryan Crane, an 'Oakville Real Estate agent' that specializes in the Milton, Mississauga, Burlington, and 'Oakville Real Estate' markets. Find him at www.oakvillerealestate4sale.ca.

An Oakville Real Estate Agents website that has MLS tools that will help you find all the Oakville Homes for Sale plus gives you access to Oakville MLS Listings and the Sold Prices for Oakville Sold Properties.

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