Calgary Building Permits Up In September

Judging by the latest building permit numbers, Calgary construction workers are some of the busiest in the country.

According to Statistics Canada, Calgary contractors took out $590.2 million worth of building permits in September, placing the city third nationwide behind Toronto ($1.16 billion) and Montreal ($619.7 million) for the busiest in Canada. "Combined total building permits in Alberta continue to rise," said ATB Financial Economist Todd Hirsch. "Over the last 12 months, permits are 19.7 per cent higher than the previous 12 months. This bodes well for construction spending and employment in the near-term."

Year-over-year, Calgary permits in September increased by 56.8 per cent over 2012 while month-over-month permits posted only a slight increase, rising by 5.6 per cent from August to September.

Nationwide, contractors took out $6.5 billion worth of building permits in September, up 1.7 per cent from August and the seventh monthly advance since the beginning of the year.

The total value of residential building permits rose 3.3 per cent to $4.1 billion, following a 4.8 per cent decline in August. Residential construction intentions increased in five provinces, led by Alberta and Quebec.

In the non-residential sector, the value of permits edged down 0.8 per cent in September to $2.5 billion. This was the third decrease in four months. Declines in Alberta and Manitoba offset gains in the other eight provinces. Quebec registered the largest increase, followed by British Columbia and Newfoundland and Labrador.

Tagged: Building Permits | Calgary Real Estate | Calgary Real Estate News | Statistics Canada