JUNE 2017 – BUILDING PERMITS UPDATE
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Overall in the first quarter, ICI permit values in Southwestern Ontario declined by 20% compared to the first quarter of 2016. Although this wasn’t a massive decline, the region’s ICI sector had its lowest quarter since the recession. Permit values also declined in all three sectors. Beneath the surface though there are two conflicting dynamics. ICI permit values in London declined by over half (down 59%) in the first quarter, while in the Windsor/Sarnia area ICI permit values nearly doubled (up 94%). Ultimately, London’s dramatic decline had more of an impact on the region’s permit total. To put a dollar value on it, compared to last year’s first quarter, London’s permit values were down by about $100 million. This is in part due to London having a very strong year last year. Permit values in London declined significantly in all sectors. Windsor on the other hand had increased permit values in all three sectors, particularly in the industrial and institutional sectors.
The Southwestern Region includes: London, Sarnia, and Windsor
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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