NOVEMBER 2017 – BUILDING PERMITS UPDATE
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After four consecutive years of decline in ICI permit values, Northern Ontario’s total ICI permit values have already surpassed the annual totals of 2016 and 2015, totalling just over half-a-billion dollars after three quarters. Northern Ontario’s total ICI permit values were up 79% in the third quarter compared to last year’s third quarter. Commercial permit values, which declined in the first two quarters of 2017, increased by 21% in Q3 year-over-year. Both Northwest and Northeast regions had increases in commercial permit values. Northern Ontario’s industrial permit values increased by 240% compared to last year’s Q3, while institutional permit values rose by about half. A significant gulf has emerged between the Northwest and Northeast regions in the industrial and institutional sectors. Over the first three quarters of 2017, Northwestern Ontario’s industrial and institutional permit values are up by 91% and 175% respectively, while Northeastern Ontario’s are down by 74% and 33% respectively.
The Northern Region includes: Greater Sudbury, Sault Ste. Marie, and Thunder Bay
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FOR MORE INFORMATION, CONTACT:
Ian Worte
Research Analyst,
ianw@iciconstruction.com
Ontario Construction Secretariat (OCS)
180 Attwell Drive, Suite 360, Toronto, ON M9W 6A9
P 416.620.5210 ext. 241
F 416.620.5310