In a sign of new building and remodeling the price of building permits has increased in Canada. The increase is measured at 12.7% increase from the previous year’s fees. There are many regions in the nation that are growing rapidly expanding the amount of new building activities like Vancouver and Ontario, and even Quebec. The values of increases was not universal across the country and grew more in hot spots like British Columbia and less in Alberta.
- Significantly, permits for multi-family dwellings were up 17.1% to $3.4 billion in January.
- The census metropolitan area of Brantford in Ontario reported the largest increase in the value of permits for single-family dwellings by 340.9% to $41 million, a record high for the area.
- Declines were reported in Ontario, Quebec, New Brunswick, and Prince Edward Island.
“The value of building permits issued across Canada’s residential sector has increased considerably at the start of the year.”