AUGUST 2016 – BUILDING PERMITS UPDATE
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Central Ontario’s industrial permit values fell by just over half in Q2. This is the lowest second quarter for Central Ontario’s industrial sector in five years. The decline was driven by the Kitchener-Waterloo-Barrie region where permit values were down by two-thirds.
There was essentially no change in commercial permit values compared to the second quarter of last year. Permit values in Kitchener-Waterloo-Barrie were down 13%, while in the Hamilton-Niagara Peninsula region cancelled out this decline, increasing by 21%. The commercial sector in the Muskoka-Kawarthas region had an excellent second quarter. Q2 saw the highest permit values in 25 consecutive quarters.
Institutional permit values in Central Ontario fell 45% to their lowest Q2 in several years. The Hamilton-Niagara Peninsula region drove Central Ontario’s decline, falling by 75%. In July a $10 million permit was issued by the City of Welland for a new courthouse. This should help the sector recover in Q3. The sector will also benefit from new hospital construction in the coming months. Bidding will take place in December for the $51 million Groves Memorial Community Hospital in Wellington County.
The Central Region includes: Waterloo Region, Guelph, Hamilton, Brantford, Burlington, Niagara Falls, St. Catharines, Barrie, and Peterborough
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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