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Monday, March 8, 2010 - Housing bolsters building permits-calgary herald


A steady rise in the residential sector has sparked an increase in the estimated construction value of building permit applications in Calgary last month.

The City of Calgary said Friday the construction value in February rose by 27 per cent compared with a year ago from $150 million to $190 million.

But the construction value is off by 38 per cent compared with the fiveyear average of $307 million and also down 19 per cent from the 10-year average of $237 million.

David Watson, general manager, planning, development and assessment for the city, said increases in residential activity must be viewed in light of the low numbers posted in the beginning of 2009.

"While the residential activity is positive, the numbers for non-residential do not show the same levels of activity when compared to previous years," he said in a statement.

In the residential category, the value more than doubled to $138.4 million compared with $56.6 million a year ago. That number was fuelled by the single-family sector, which totalled $111.6 million in February. Of the 918 residential permits, 415 are for single-family permits.

Permit values for non-residential totalled $52.5 million, down 44 per cent from $94 million in February 2009.

Total permit value year-to-date is up 42 per cent from $293 million to $416 million due to the steady rise in residential permit applications.

For the first two months of this year, building permit applications are up 178 per cent in the residential sector to $266.2 million, while the nonresidential sector is off by 24 per cent to $150.1 million.

The city says building permits are a barometer of intentions in the construction industry and are not actual construction starts.

posted in News at Mon, 08 Mar 2010 09:41:29 -0700



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